FRANCE: Belvedere Group posts Q1 net sales growth
Belvedere Group issued its Q1 sales results today
Belvedere has posted a lift in net sales in its first quarter.
The French drinks group, which was placed in administration in March, said earlier today (16 May) that net sales in the three months to the end of March hit EUR198.7m (US$253m), an increase of 4% on the corresponding period a year earlier.
"The performance of all of our brands, on all of markets, is testimony to the dynamism and effectiveness of our business model," said Belvédère's CEO, Christophe Trylinski. “We intend to pursue the strategy we committed ourselves to six months ago, that of profitable growth and debt reduction.”
In Poland, by far Belvédère's biggest market and where the group's Krupnik vodka strengthened its position as the country's leading brand, net sales rose by 16.2% like-for-like.
Belvédère is seeking to reach a debt repayment deal with its creditors, based on the sale of non-core assets.
To read the company's official statement, in French, click here.
To read just-drinks' take on what could happen next, click here.
The creditors and bond holders of Belvedere have approved proposals for the settlement of liabilities....
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