UK revenues at the proprietor of champagne marque Moët & Chandon tumbled by £25m during its most recent financial year amid “difficult trading conditions”, it has been disclosed.
Moët Hennessy UK has recorded a turnover of £267.1m for 2024, declining from the £292.7m it secured in 2023, as reported by City AM.
The enterprise attributed its revenue drop to being “In line with the overall decline in the industry, predominantly driven by the reduction in high value champagne and spirits category.”
Fresh accounts lodged with Companies House also reveal its pre-tax profit fell from £23m to £16.1m over the same timeframe.
Alongside Moët & Chandon, Moët Hennessy’s portfolio encompasses Dom Perignon, Ardbeg, Veuve Clicquot, Frug and Ruinart.
The firm forms part of the broader LVMH (Louis Vuitton Moët Hennessy) conglomerate based in Paris.
Moët & Chandon struck by ‘inflationary pressure’
A declaration endorsed by the board stated: “The year… concluded with a good performance for the company despite difficult trading conditions characterised by ongoing economic volatility and continued inflationary pressure.
“In a highly competitive market context, the company has maintained stable market share.
“The results have been achieved through the company’s continued focus in the distribution and development of premium brands.”
Looking ahead, the proprietor of Moët & Chandon stated: “The company will continue to implement the group/s value strategy and will invest additional resources in its key brands to ensure it is well positioned to exploit the exciting potential that exists in the market for premium wines and spirits and the private sales channel.
“The company will continue to strictly control costs and implement a robust appraisal of return on investment analysis.”
These findings emerge after City AM disclosed in May that Champagne Lanson experienced a dramatic decline in its UK revenues during 2024 as consumers abandoned pubs and eateries throughout the cost-of-living squeeze.
The marque’s turnover plummeted from £45.2m to £35.5m last year whilst its pre-tax profit likewise tumbled from £1.7m to £819,000.
The champagne house, whose heritage stretches back to 1760, attributed its 27 per cent sales decline partly to overall champagne exports from France to the UK dropping by 7.5 per cent in 2024.
Against 2023’s figure of 25.5m bottles entering the UK, just 23.6m bottles were imported last year.
Yet despite the volume reduction, the mean value of champagne exports to the UK climbed by 7.4 per cent during the period.
Champagne Lanson noted that the average price per bottle increased by six per cent.
