• FY net profits up 6% to EUR22.9m (US$25.3m)
  • Net sales in 12 months to end of March climb 5% to EUR231.9m
  • Operating profits increase by 4% to EUR42.1m
Laurent-Perrier appointed Lebannier in January

Laurent-Perrier appointed Lebannier in January

Laurent-Perrier's newly-installed CFO is to step down after less than six months in the job, the company has revealed after posting a boost in full-year sales and profits.

Philippe Lebannier, who joined the Champagne house from Pernod Ricard in January, will "shortly" leave by mutual agreement and for personal reasons, Laurent-Perrier said yesterday. Chairman Stéphane Dalyac will replace Lebannier.

Meanwhile, Laurent-Perrier said it has returned to full-year sales growth as a rebound in France for its namesake Champagne brand boosted the top and bottom lines.

Net profits in the 12 months to end of March were up 6% to EUR22.9m (US$25.3m), the group said. Net sales climbed by 5% to EUR231.9m in the same period while operating profits increased by 4% to EUR42.1m.

The results were an improvement on last year's FY results, which saw sales decline but profits increase.

In fiscal 2014-15, the Laurent-Perrier brand continued to expand to new markets, while sales volumes were further driven by a return to growth in France. Asia and Oceania saw double-digit growth for the Champagne and exports increased their share of net sales by 0.7 percentage points to 76.9%.

Sales were boosted by favourable currency rates; on a constant-currency basis, sales increased by 3%.

Chairman Stéphane Dalyac said: "The quality of our performance in the 2014-2015 financial year has once again demonstrated the robust nature of the growth model adopted by the Laurent-Perrier group. The year was also marked by several major operations, with the acquisition of wine merchant House Daumale, the creation of a subsidiary in Italy, and the launch of a multi-year investment programme at Tours-sur-Marne. All these initiatives reflect our confidence in the future and in the group's ability to pursue further development."

Lebannier spent about 20 years with Pernod, where he most recently was international treasury director. He also served as CFO for the French company's Mexico and South Korea units.