• Half-year net profits slip by 9% to EUR10.3m (US$11m)
  • Sales in six months to the end of September decrease by 4% to EUR97.9m
  • Operating profits fall 6% to EUR19.2m
Laurent-Perrier has had a tough first half of fiscal-2017

Laurent-Perrier has had a tough first half of fiscal-2017

Laurent-Perrier has reported single-digit falls in both sales and profits for the first six months of its current fiscal year.

The listed Champagne house said late last week that net profits in the six months to the end of September were down by 9% year-on-year, on a 4% drop in sales. Chairman Stephane Dalyac conceded that the company was battling with a "difficult market environment" in the half-year.

The performance compares to the year-prior when profits rose by 5%, while sales were up by just over 7.5%.

A negative currency effect of 2.3% in the period followed a +3% effect a year ago.

"First-half performance cannot be extrapolated to the second half due to the highly seasonal nature of our business and the difficult, uncertain economic and monetary environment, which calls for considerable caution," Laurent-Perrier said.

In June, the group warned that the trading environment in 2016 "requires considerable caution".

To read Laurent-Perrier's half-year statement, click here.

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