FRANCE : Belvedere posts nine-month sales growth
Growth was largely driven by Belvédère's activities in Poland
Embattled drinks group Belvédère has posted nine-month sales of EUR649.4m (US$878.3m), an increase of 8.1% on the same period of last year.
Growth was largely driven by Belvédère's activities in Poland, with sales up 12.5%.
"With a 22.1% market share at the end of September, the group continues to develop in Poland's vodka market, thanks tho the spectacular success of Krupnik which is now the second leading brand," Belvédère said. Poland alone now accounts more than 60% of Belvédère's global turnover, said the group, which nevertheless recently saw a switch of CEO and faces tough negotiations with creditors in order to avoid collapse.
In France, the William Peel brand consolidated its position as market leader in Scotch whisky with a volume share of 20.4%, the group said. In the US, sales rose by 22.8%, mainly thanks to Sobieski vodka, but the country only represents 2.7% of global turnover.
Belvedere has declined to say whether its Sobieski vodka is among its brands up for sale, following a report that the group has received interest in its star product....
French drinks group Belvédère has reported a 2011 turnover of EUR910.7m (US$1.2bn), an increase of 5.8% on the previous year....
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