FRANCE: Vranken-Pommery Monopole sees Champagne fizz again
Vranken-Pommery Monopole has bounced back from a poor Q1
Vranken-Pommery Monopole saw its core Champagne sales rise in Q2, with positive growth outside of Europe.
The French Champagne house posted a 5.5% net sales increase for the three months to June, in a trading update released last week. Champagne, which accounts for about 70% of sales, grew by 7% over the same period, while sales outside of Europe rose by 4.5%.
The company said its four international Champagne houses, including its flagship Pommery brand, have renewed its development in countries outside of Europe.
The company's Q2 gains go some way to wiping out a poor Q1, in which net sales dropped 8.7%. Q2 is traditionally a bigger quarter for Vranken-Pommery, but combined sales for the first half of the year were still down by 0.9% compared to the same period a year earlier.
The company said Q2 results showed it is coping well in a difficult trading environment.
“The group has stabilised its financial structure, for which the debt position is strictly related to the volume of the harvests, and confirms its ability to constantly adapt to an uncertain economic context,” the company said. “Streamlining of the sites and their specialisation is continuing, opening up new sources of future productivity gains.”
Vranken-Pommery said it will release more detailed H1 results on 31 August.
To read the company's official release, click here.
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