• FY net profits double to EUR15.45m (US$21.7m)
  • Operating profits rise by 82% to EUR20.1m
  • Net sales flat at EUR174m
Champagne Nicolas Feuillatte toasts profits rebound

Champagne Nicolas Feuillatte toasts profits rebound

Champagne Nicolas Feuillatte has reported a strong rebound in full-year profits, despite flat net sales.

Group sales of Champagne rose by 19% for the 12 months to the end of December 2010, to EUR125m (US$176m), said Nicolas Feuillatte yesterday (23 May). Volume sales of Champagne increased by 16% for the year, to around 8m bottles.

However, total group net sales for the period were flat against 2009, at EUR174m, and remained below the EUR193m reported in 2008.

Despite this, Nicolas Feuillatte's net profits leapt by 114% to EUR15.45m, albeit against a relatively low comparative figure in 2009. One-off gains boosted the group in 2010, but lower operating costs also lifted profits, with operating profits up by 82% to EUR20.1m for the year.

Group director general, Dominique Pierre, hailed rebounding consumer demand for Champagne. "Who would have predicted a year ago that Champagne volumes would have risen by 9% [in 2010]," he said.

"Without succumbing to blind optimism, because the criss is not over, it's important to note that consumers are not turning their backs on Champagne," he added.