The company saw a good performance across its wines and spirits brands in the first quarter of 2017, with double-digit organic revenue growth across the business.

Overall Wine and Spirits revenue grew 15.8% to €1,196 million, compared to €1,033 million in 2015, buoyed by particularly strong spirit sales. There was double-digit growth in cognac and spirits, rising nearly 20% to €757 million, up from €632 million a year ago. Cognac brand Hennessey saw volumes up 20%, although it noted potential problems with stocks. The continued development of Glenmorangie and Belvedere were also highlighted, and LVMH confirmed there was a recovery in China, as well as good momentum in the US.

Champagnes and wines also grew, albeit less sharply, rising 9.5% to €439, up from €401 million last year. Champagne volumes were up 7%, and there was a “solid performance” across both Europe and the US for its wines, it said.

There was an overall organic growth of 13%, and a positive currency effect contributing 3% across its wine and spirits portfolio.

Overall revenue across the LVMH group reached €9,884 million over the quarter, up from 8,620 million in the same period last year.

Read More at Source: The drinks business