Mumm champagne loses its sparkle

From The Publican

By Hamish Champ , 02-Sep-2010

Related topics: General News, Company & City News, Drinks & Brands News

Sales of Mumm champagne, Pernod Ricard's leading brand of bubbly, appear to have fallen victim to the global economic downturn.

 

The drinks giant reported today that total sales of the champagne brand were down seven per cent and volumes down nine per cent, presumably as consumers in markets around the world looked for cheaper alternatives to mark a celebration.

 

Pernod reported total annual turnover for the year, excluding tax and duty, down two per cent at €7bn (£5.8bn) with pre-tax profits down three per cent at €1.8bn (£1.5bn).

 

The group said it had seen an improved performance in the second half, with strong growth in most new economies and what it described as a "very gradual recovery" in consumer spending in the US.

 

It said it was seeing a "contrasting situation" in Europe, with some signs of a recovery being impacted by various regimes' austerity measures.

 

Profits from the group's European markets fell three per cent, with the situation in Spain and UK remaining "difficult", Pernod said.

 

Pernod's chief executive Pierre Pringuet said the group's performance throughout the last financial year had been "sound".

 

"Our priorities for the 2011 financial year remain the development of our premium strategic brands, a continuing strong marketing investment level and the reduction in group dent," he added.

Find us on Facebook

Spotlight

Legal Q&A: Opening a cinema club and assault charges

Legal Q&A: Opening a cinema club and assault charges

This week's legal Q&A asks what you should do regarding personal licences and being charged with assault,...

Five minute guide to Champagne, Prosecco and Cava

Five minute guide to Champagne, Prosecco and Cava

It may, in the past, have been associated with indulgence and special occasions, but all that is...

Legal Q&A: Nudity, noise and measuring down

Legal Q&A: Nudity, noise and measuring down

This week's legal Q&A features issues to do with 'regulated entertainment' and nudity, noise abatement notices and...

Drinks promotions: top legal tips

Drinks promotions: top legal tips

In this top tips series we continue our analysis of the practical implications of the changes to...

Follow us on