FRANCE: Boizel Chanoine sees Q3 sales rise
Boizel Chanoine Champagne has posted a marked lift in sales for its third quarter.
The Champagne house said yesterday (6 November) that sales for the three months to the end of September increased by 18.9% year-on-year, reaching EUR64.8m (US$95.1m).
For the first nine months of 2007, sales at Boizel Chanoine rose to EUR205m from EUR164.2m in the corresponding period a year earlier. The company noted, however, that last year's sales did not include its Maison Burtin and Champagne Lanson subsidiaries, which the group acquired at the end of March 2006.
Revenues in the nine-month period reflected the balance on the stock reduction programme launched by Boizel Chanoine last year, in connection with efforts to restructure the group's debt, representing EUR37m compared with EUR45m in 2006. The group also noted that price increases on the brands acquired in 2006 had not resulted in the losses in volumes it had budgeted for.
"The value strategy focused on continuing to upgrade the group's brands is gradually being rolled out for the new subsidiaries, set against a still favourable backdrop for the consumption of luxury goods in general and Champagne in particular," the company said.
Boizel Chanoine concluded that it has revised its sales estimate for 2007 upwards, to EUR335m from EUR320m.
The company will release its full-year sales details in February.
Boizel Chanoine Champagne has posted a marked rise in net profit for last year....
Boizel Chanoine Champagne has seen sales value outdo sales volume in 2007....
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