FRANCE: Laurent-Perrier FY profits drop, but non-Europe sales positive

By | 3 June 2013

  • Full-year net profits fall 6.9% to EUR20.2m (US$26.3m)
  • Net sales up 1.9% to EUR222.9m 
  • Operating profits drop 10.4% to EUR40m 
  • Group expects to benefit from demand outside Europe 
The group has seen FY profits down

The group has seen FY profits down

Champagne house Laurent-Perrier has seen a slight rise in full-year sales due to demand outside Europe, but profits have dropped. 

Net profits in the 12 months to the end of March fell by 6.9% to EUR20.2m (US$26.3m), the group said last week. Sales in the period edged up by 1.9% to EUR222.9m. 

Operating profits came in at EUR40m, down 10.4% on the prior year. 

The company said its sales were helped by "increased international exposure" for the Laurent-Perrier brand, meaning sales grew outside Europe. Exports are now a record 75.1% share of the group's revenue, it said. 

Laurent-Perrier had reported a tough Q3 earlier this year

Looking ahead, the company said in statement: "Over the coming months, the group should continue to benefit from upbeat demand outside Europe, while European markets are likely to remain difficult."

Expert analysis

Global market review of Champagne – forecasts to 2016

Some of the issues and challenges addressed in the previous edition of just-drinks' Champagne report continue to influence a category struggling to grow. Recovery from economic downturn and tumbling sales was evidenced in 2010 and part way through 2011, only to be replaced with a further slow down at the end of that year and continuing into 2012. This has been more prevalent in the western European countries. Elsewhere there has been better sales performance, noteably in the US and Japan, significantly in Australia and not forgetting the burgeoning economies of Asia and Greater China. However, even these new markets can only go part way to offset the situation in the more mature markets, to such an extent that total Champagne shipments are expected to rise only slightly during 2012. According to the report, pronounced growth is unlikely until 2015.|

Sectors: Wine

Companies: Perrier

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FRANCE: Laurent-Perrier FY profits drop, but non-Europe sales positive

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