How volume increase rather than price increases are driving revenue growth, and the importance to profitability

Progress in North America, the importance of distribution and bottling deals there, and the scale of the opportunity

The trading impact of continued lockdowns in China, and the significance of its tentative reopening

The importance of luxury tourism to the business as highlighted by a new distribution deal in Vietnam

The impact of the macro-economic backdrop and the resilience of the luxury consumer to the global inflationary crisis