French champagne group Vranken-Pommery Monopole has seen its turnover grow 7.3 % in the third quarter, which partially makes up for its weak start of the year.
Particularly champagne sales have grown a lot, 8.5 % thanks to several marketing campaigns in Northern Europe. Over the past three quarters, the like-for-like turnover grew 2.3 %, which means Vranken is catching up after an abysmal first half of the year (with a 7.8 % like-for-like turnover drop).
Vranken is still convinced it can reach its full-year forecasts, as more than half of its turnover comes from the holiday period.
Vranken-Pommery Monopole is the second largest European champagne group and Europe's largest wine group. French Paul-François Vrancken, originally from Limburg (Belgium), owns 70.9 % of the company.