The year is 2012 and all Gaul stock market is down. All? No! One small village of indomitable Gauls still holds out.. Cognac!
After the 42 per cent drop of the French Stock Market (CAC 40) in 2008, the modest rise of 22.3 per cent in 2009 and small drop of 3.3 per cent in 2010, 2011 saw it all going horribly wrong once more when it fell by 17 per cent.
However, the spirits groups – including those that own cognacs – have proved rather more resilient than many other types of company.
For example, Remy Cointreau ended the year up 17.3 per cent at €62.09, and are confident that by the end of March 2012 they will be showing a ‘significant increase in results.’
Pernod Ricard (who own Martell Cognac) are up 1.8 per cent to €71.66.
LMVH (Hennessy Cognac) shares, although down by 11.1 per cent to €109.4, are buoyed by their wines and spirits sales which grew organically by 11 per cent in the first three quarters of 2011 to a massive 2,306,000,000 euros. Hennessy sales have been, as we’ve continued to report at Cognac Expert, particularly strong in Asia, and global sales of Hennessy went up by 8 per cent over the same period.