The Champagne house, Laurent-Perrier, has posted a 4.1% decline in net profit for the year to the end of March 2003. Net profit fell from €12.09m to €11.61m on sales revenues 7.9% higher at €162.83m.

Operating profit rose marginally from €27.28m to €27.75m. The company said that increased volumes had helped to offset the negative impact of currency exchange fluctuations.