FRANCE: Tough Q3 brings Laurent-Perrier back to earth in YTD
Laurent-Perrier saw sales slow in its Q3
Laurent-Perrier Group has seen slowing sales in its fiscal third quarter bring its year-to-date performance back in line with the same period a year ago.
The Champagne house said earlier this week that sales in the three months to the end of December were down by 2.8% on the corresponding period in 2011, coming in at EUR88.5m (US$118.5m). Nine-month sales were subsequently flat, up by 0.5% to EUR184.1m.
Late last year, the firm posted a 3.9% increase in sales for its first six months, hitting EUR95.5m. Profits for the half-year, however, plunged by 27%.
Laurent-Perrier highlighted tough comparisons for the third quarter, with comparative sales in 2011 jumping by 8.2%.
“As in the second quarter,” the company said, “development of the Laurent-Perrier brand was held back by a sluggish business climate on its European markets.” The firm noted, however, that “demand from outside Europe remained upbeat, partly thanks to strong performance in the US and Japan.”
For the current final quarter of its fiscal year, Laurent-Perrier's namesake brand “should see renewed growth, driven by strong performance in non-European markets, which traditionally represent a greater proportion of brand turnover at this time of year”.
Laurent-Perrier will announce its full-year figures on 28 May.
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