FRANCE: Boizel Chanoine toasts Burtin, Lanson buys for strong H1
Boizel Chanoine has seen sales leap by over a quarter in the first half of this year, as contributions from Maison Burtin and Champagne Lanson made their presence felt.
The French Champagne group said yesterday (20 August) that sales in the six-month period were up by 28% on the corresponding period a year earlier, hitting EUR140m (US$188.7m). The rise was credited in part to the integration of Burtin and Lanson over both quarters, compared with just the one last year. Boizel saw the two subsidiaries, consolidated in April 2006, contribute EUR99.3m in sales for the half.
In organic terms, sales at the group came in at EUR40.9m, a rise of 39.6% year-on-year.
The company was pleased with a "strengthened" export presence, but warned that fluctuations between the dollar and euro exchange rate would not allow the company "to implement an aggressive strategy in the US".
"2007 represents the first year to be fully covered by the new configuration, further to the acquisition of Maison Burtin and Champagne Lanson in March 2006," the company said. "The first half of 2007 will notably factor in the entire acquisition cost, in addition to financing for the ageing of stock for the new subsidiary (six months, compared with three in 2006)."
Boizel concluded that it remains on track to meet its revenue target of EUR320m for the full-year.
Full results for the first six months of this year will be released on 24 September.
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