Champagne firm owner loses £25m

UK revenues at the proprietor of champagne marque Moet & Chandon tumbled by £25m during its most recent financial year amid “difficult trading conditions”, it has been disclosed.

- JON ROBINSON

Moet Hennessy UK has recorded a turnover of £267.1m for 2024, declining from the £292.7m it secured in 2023.

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 pretax profit fell from £23m to £16.1m over the same timeframe.

Alongside Moet & Chandon, Moet Hennessy’s portfolio encompasses Dom Perignon, Ardbeg, Veuve Clicquot, Frug and Ruinart.

The firm forms part of the broader LVMH (Louis Vuitton Moet Hennessy) conglomerate based in Paris.