FRANCE: Laurent-Perrier cheers FY profits as bicentenary looms
- Full-year net profits leap by 46.3% to EUR21.7m
- Sales in 12 months to end of March rise by 10.6% to EUR218.8m
- Operating profits also soar, by 35.4% to EUR44.6m
- Company prepares for bicentenary in 2012
Laurent-Perrier has seen its namesake Champagne brand soar despite the downturn
The Champagne firm, which is listed on the French stock exchange, said late last week that net profits in the 12 months to the end of March came in 46.3% up on a year earlier, at EUR21.7m (US$27.3m). Operating profits also rose markedly, by 35.4% to EUR44.6m. Sales for the period increased by 10.6% to EUR218.8m.
The Laurent-Perrier brand posted a double-digit rise in sales driven by "strong growth in export markets", the company said. Sales were particularly strong in the UK and US, as well as in Italy, Japan, and Australia.
Looking to the current fiscal year, the group said that it will continue to develop the Laurent-Perrier brand, "whose importance in the brand portfolio is constantly growing". The company also warned, however, that "brand development costs" will rise in fiscal 2012-13, as it celebrates its bicentenray this year.
As well as Laurent-Perrier, the company sells ths Salon, Delamotte, and Champagne de Castellane brands.
For coverage of the company's H1 performance, click here.
To read the company's official FY statement, click here.
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