Laurent-Perrier has found growth overseas in Q1

Laurent-Perrier has posted a healthy lift in sales for its first fiscal quarter, with exports driving performance.

The Champagne house, which is listed on the French stock exchange, said today (20 July) that for the three months to the end of June, sales reached EUR45.5m (US$55.4m), an 11% year-on-year rise. Its premium Champagne brands upped their share of total sales by 1 percentage point to 42%.

"Share of the Laurent-Perrier brand in consolidated Group turnover saw a further increase thanks to rapid growth in export markets," the company said. 

Overall volumes were up 5.8% on last year's Q1. 

“The favourable product mix, combined with the price increases implemented at the beginning of the year, explain the positive 2.7% price/mix effect over the quarter, despite the already high comparison basis,” the company added.

However, it warned that first-quarter growth should not be extrapolated to the full year because of an uncertain economic climate.

Despite this note of caution, the company said it was hoping for a momentum boost from its bicentennial celebrations throughout this year.

To read the official release, click here.