Vranken-Pommery Monopole withholds forecast as H1 Champagne sales drop - results
- Six-month group sales climb 2.5% to EUR95.2m (US$104.6m)
- Champagne sales in six months to end of June slip 1.7% to EUR72.8m
- Q2 group sales down 0.2% to EUR46.3m
- Q2 Champagne sales dip 0.9% to EUR34.3m
Vranken-Pommery Monopole said H1 Champagne sales were in line with H2 last year
Vranken-Pommery Monopole has declined to issue a full-year forecast as still wine growth propped up falling Champagne sales in the first six months of the year.
The winemaker said last week it will not publish FY targets, "given the activity's seasonal nature and the currently unstable environment". Champagne sales in the six months to the end of June fell by 1.7% to EUR72.8m (US$80m), a performance that Vranken-Pommery said was in line with the second half of last year.
Overall, H1 sales were up by 2.5% to EUR95.2m as Provence and Camargue wines grew the top line by 17.1% to EUR9.6m, albeit from a relatively small base. Vranken-Pommery's Champagne accounts for about three-quarters of all sales.
"The Gris and Rosé wines segment remains extremely buoyant," the group said. "Strong sales in North America once again contributed to the increase recorded in the first half and point to another full year of growth."
Vranken-Pommery Monopole is the second largest Champagne group and has sites in Champagne, Provence, Camargue and Douro. Its brand portfolio includes Champagne brands Vranken, Pommery,and Heidsieck. In addition, it is the joint owner with the Castel Group of the Listel brand portfolio.
Last week, Vranken-Pommery's share price dropped by 2% after the release of its H1 results.
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