FRANCE: Rising prices, falling volumes lead to Laurent-Perrier FY revision
Laurent-Perrier has lowered its full-year forecasts, due to sliding volumes in its third quarter.
The French Champagne house said late last week that sales for the year to the end of March are now expected to come in between 5% and 7% up on 2006-2007, down from the previous estimate of 6%-8% growth.
The revision comes on the back of a 2.1% drop in reported sales for the pre-Christmas quarter, traditionally the busiest period for Champagne companies. Laurent-Perrier blamed rising prices and falling volumes for prompting the revision.
The company, however, maintained its belief that its full-year results should register an improvement on the corresponding period a year earlier.
While third quarter sales fell to EUR94.4m (US$136.8m) from EUR96.4m 12 months previous, sales in the first nine months of the fiscal year climbed by 6.7% to EUR209.8m. A 7.6% increase in prices helped offset a 0.1% slip in volumes, the company concluded.
Champagne house Laurent-Perrier has seen sales in its first quarter drop by a fifth, as the group enters what it has described as a "transition period"....
Pernod Ricard has shuffled its management pack, following the appointment of two deputy MDs last week....
Pernod Ricard is releasing ten limited edition 12-bottle cases of tailor-made Perrier-Jouët cuvée, Belle Epoque "By & For", in the UK market....
The Laurent-Perrier supervisory board has appointed Stéphane Tsassis to the position of deputy general manager and member of the management board....
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