FRANCE: US recession hits Marnier-Lapostolle in H1

Marnier-Lapostolle has reported a 6% fall in sales for the first half of 2009, due to a decline in exports to the French firm's key US market.

Net sales for the six months to the end of June fell by 6.4% to EUR53.9m (US$76.9m), compared to the same period last year, said Marnier-Lapostolle late Friday (24 July).
A 13% drop in exports by volume to the US, a key market for the group's flagship Grand Marnier liqueur brand, was the main reason for the decline, the company said.
A stronger US dollar softened Marnier-Lapostolle's half-year net sales fall, which was 14.5% at the same exchange rates on the first half of 2008.

Group volume sales for the six months fell by 8%, after a 34% gain in France helped to offset decline in the US, the UK and Canada.

Earlier this month, Marnier-Lapostolle announced the appointment of a new senior sales team.