The latest influx of financial results from the world’s biggest drinks firms have painted a similar picture: positive organic sales, with the US and China driving growth and mitigating losses incurred by the pandemic. Together, the markets account for a third of global alcohol volume and over 40% of global value, according to IWSR data.
Leading the charge in the results announcements were France’s top distillers. For the first nine months of its 2020/21 fiscal year, Pernod Ricard reported organic sales growth of 1.7%. In the US, the group registered mid-single-digit growth, while in China Pernod Ricard saw gains of 34%. For its full 2020/21 period, Rémy Cointreau witnessed organic sales growth of 1.8%, in large part thanks to “excellent momentum” in Cognac consumption in the US and China.
Moët Hennessy, meanwhile, announced a 36% uplift for wine and spirits in Q1 2021 compared to Q1 2020 and +17% versus Q1 2019 – showing strong growth even compared to pre-pandemic times. Regarding its latest results, the group highlighted a “strong rebound” in China and “robust demand” in the US. In its first quarter results, Moët Hennessy reported a 22% increase in Champagne volumes, driven by the US and Europe, and a 28% increase in Hennessy Cognac volumes, driven by China.
This story is from the May 2021 edition of Ambrosia.
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This story is from the May 2021 edition of Ambrosia.
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