FRANCE: Tough comp's see Laurent-Perrier Q1 sales struggle
Laurent-Perrier is faring better outside Europe
Champagne house Laurent-Perrier has reported a double-digit drop in first-quarter sales and volumes but said demand outside Europe remains strong.
Group sales in the three months to the end of June fell by 10.5% to EUR40.7m (US$53.5m), the company said late last week. Volumes in the period dropped by 14.4%.
The group flagged tough comparables after last year's first quarter saw growth of 11%. Price rises in this year's Q1 also affected its performance.
Premium brand Champagne sales now account for 40% of turnover, Laurent Perrier said, without giving further details.
Looking ahead, the group said that visibility is “limited” due to the “persistently difficult business climate in European markets”
Growth will be driven by markets outside Europe, it added, where “demand remains upbeat”.
Last month, Laurent-Perrier reported a 6.9% drop in full-year net profits.
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