JWN rum sales hit $13b over nine months
Published:Wednesday | October 27, 2021 | 1:02 AM
Jamaica’s top rum company J. Wray & Nephew Limited, JWN, made €75 million or $13.4 billion in revenue over nine months ending September, outperforming pre-pandemic sales by a quarter, according to financials released Tuesday by its Italian parent.
Jamaica also outperformed many of the markets within the Campari Group, with “strong performances” from brands Wray & Nephew Overproof, Campari, Appleton Estate and Magnum Tonic, “thanks to a sustained off-premise performance and the continued recovery of the on-premise driven by both domestic trade, but also thanks to international tourism recovery”, the Italian company said.
Off-premise drinking usually refers to liquor purchased at places such as supermarkets and consumed elsewhere, while on-premise refers to bars and restaurants where the product can be and is usually consumed on-site.
JWN nine-month sales improved 22 per cent relative to the 2020 period and 25 per cent over the 2019 pre-pandemic period.
Campari Group reported net sales of €1.58 billion, up 27 per cent relative to 2020 and 24 per cent higher than in 2019. The group earned profit before tax of €343 million, compared to €220 million in 2020.
In 2020, local sales took a hit due to closures of entertainment spots and reduced activity in the tourism and travel market. Nine-month sales at the time dipped 7.6 per cent to €61.6 million.
Jamaica has contributed five per cent to global sales for the group, so far this year, amid a rise in JWN Jamaican rum exports, which was driven by consumption in the United States, Canada and the United Kingdom.