FRANCE: Tough Q3 brings Laurent-Perrier back to earth in YTD
By Olly Wehring | 15 February 2013
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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.
Expert analysis
Global market review of Champagne – forecasts to 2016
Some of the issues and challenges addressed in the previous edition of just-drinks' Champagne report continue to influence a category struggling to grow. Recovery from economic downturn and tumbling sales was evidenced in 2010 and part way through 2011, only to be replaced with a further slow down at the end of that year and continuing into 2012. This has been more prevalent in the western European countries. Elsewhere there has been better sales performance, noteably in the US and Japan, significantly in Australia and not forgetting the burgeoning economies of Asia and Greater China. However, even these new markets can only go part way to offset the situation in the more mature markets, to such an extent that total Champagne shipments are expected to rise only slightly during 2012. According to the report, pronounced growth is unlikely until 2015.|
Sectors: Company results, Wine
Companies: Perrier
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FRANCE: Tough Q3 brings Laurent-Perrier back to earth in YTD
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