FRANCE: Champagne rebound boosts Lanson-BCC FY profits
- 2010 net profits up by 19% to EUR19.2m (US$27.2m)
- EBIT up by 12.6% to EUR43.2m
- Net sales up by 11% to EUR305m
- Figures still lag those of 2007
Lanson-BCC upbeat as Champagne demand returns
Lanson-BCC has reported a strong rise in full-year profits for 2010 thanks to stronger consumer demand for Champagne.
Net profits rose by 19% for the 12 months to the end of December, to EUR19.2m (US$27.2m), Lanson-BCC said yesterday (22 March). Earnings before interest and tax increased by almost 13% on the previous year, to EUR43.2m.
Stronger demand for Champagne, which led to an 11% rise in net sales to EUR305m, together with lower costs, lifted the Lanson Champagne producer's performance for the year.
The group remained below levels hit in 2007, the last full year prior to the global financial crisis, when profits reached EUR21.4m and net sales hit EUR359.4m.
However, the company said that it has seen momentum from 2010 continue into this year. "2011 has seen quite a dynamic start to the year," said the group, although it warned against "excessive optimism" due to strong competition in the market.
Today, a report in France's Les Echos newspaper said that Lanson-BCC will return to the US market for the first time since 2008. This could not be immediately confirmed by just-drinks.
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