Champagne house Vranken-Pommery Monopole has reported a 4.9% increase in consolidated sales in the first half of its financial year, which it says was in line with expectations.
The Reims-based owner of the Vranken, Pommery & Greno, Heidsieck & Co Monopole, Charles Lafitte and Bissinger & Co champagnes, which also owns a number of wine brands, reported sales of €117.7 million during the period.
It said that the positive performance was achieved in an overall champagne market in which shipment volumes fell by 4.7%, according to Comité Champagne data.
Sales Performance
In France, which accounts for 35% of the group's sales, sales rose by 1.6% in the half year period, with the business reporting a stronger position in the off-trade.
Elsewhere, sales outside France saw a 'positive sales momentum', the group noted, particularly in English-speaking countries and travel retail.
Operating profit rose by 86.7% in the half-year period, to €11.2 million, compared with €6 million in the first half of 2022.
Net financial debt was again reduced by €1.5 million to €701.2 million, it added.
Full-Year Forecast
For full-year 2023, Vranken-Pommery Monopole is maintaining its sales growth forecast of 5%, it noted, adding that harvesting is underway in the group's four core production areas.
In its core Champagne production area, it expects that the appellation yield of 11,400 kg/ha will be reached this year.
In Provence, harvesting is underway at Château La Gordonne, where the maximum AOP Côtes de Provence yield of 50 hl/ha will be reached, while in Camargue, yields are up 5%. Finally, in Portugal's Douro Valley, yields are expected to be 12% to 15% up on 2022, the group added.
