Profits up as Vranken-Pommery bucks Champagne trend
- Tuesday 6 April 2010
The company, which also owns the Rozès and Terras do Grifo Port brands, as well as Domaines Listel Vins des Sables, posted turnover of €269.8m in 2009, down 5.6%, and a net profit of €18.2m, up 7.8%.
Vranken-Pommery Monopole, the second largest Champagne producer behind Moët Hennessy, restricted Champagne volume declines to 0.1% during the year –despite the market as a whole falling by 9.1% over the same period.
The result was ‘substantial gains in market share’, Vranken-Pommery Monopole said.
Brands Heidsieck Monopole and Charles Lafitte recorded ‘significant growth’ in France and Europe, the company said, adding that sales in the UK had held up well, and the new Italian subsidiary had had an ‘excellent’ start.
‘Although suffering from the economic downturn like all ultra-premium brands, Pommery nevertheless recorded an increase in net sales in the USA, given the intensive involvement of the American team,’ it added.
However, the company admitted that sales of higher-priced Champagnes had continued to fall during the year, although it added that it expected that trend to be reversed as the economic recovery took hold.
Bordeaux 2009: All the coverage