Pommery acquisition boosts Vranken results
year is already paying off for Vranken Monopole, which saw its
sales rise by more than 50 per cent in the first nine months of the
year.
The consolidation of the recently acquired Pommery Champagne business has helped Vranken Monopole to a 52.4 per cent increase sales for the first nine months of the year.
The brand, acquired from LVMH earlier this year, was one of the main drivers of Vranken's growth during the nine month period, when total sales reached €95.7 million, but the company added that all its brands - including Heidsieck Monopole, Charles Lafite and Vranken - had improved during the third quarter.
The company, which also owns the Rozes and Sao Pedro port wine brands, said that more than 50 per cent of its sales were from export markets, and boasted that it had leading positions in the eight leading international Champagne markets - Japan, the US, the UK, the Benelux countries, Germany, Switzerland, Italy and France.
Vranken said it expected full year operating profits to be around 20 per cent higher than in the previous year, and said that the international strength of Pommery would help boost sales of all its other brands as the year progressed, both in terms of volume and value.
Full year sales are therefore expected to be around €200 million, with the operating margin target of 20 per cent of sales expected to be reached this year, a year ahead of schedule.
