Champagne house, Laurent-Perrier, has reported sales of €150.8m for the year to the end of March, 2002, 2.7% higher than the previous year's figure of €146.9m.

Laurent-Perrier, which is the largest company exclusively concerned with the production and distribution of Champagne, also said it was confident about the outlook for the coming year.

However, the increase was below Laurent-Perrier's own forecasts which had put full-year turnover growth at 3.5%, in line with the figure at the third quarter stage. Analysts had been predicting sales in the region of €152m.

The company, which produces the Laurent-Perrier, Salon, Delamotte and Vicomte de Castellane brands, said the results were satisfactory given the affects of September 11 and the fact that the market is still recovering from the problems created by retail overstocking at the millennium. Laurent-Perrier will publish its full-year results on May 22.