Laurent-Perrier saw its sales improve very slightly in Q3

Laurent-Perrier saw its sales improve very slightly in Q3

Laurent-Perrier has posted flat sales in its fiscal third quarter, with year-to-date sales figures staying in the red.

The publicly-listed Champagne house said late yesterday (12 February) that sales in the three months to the end of December inched up by 0.1% year-on-year, totalling EUR88.7m (US$120.8m). The performance marked an improvement on the first six months of the company's fiscal year, when sales were down by 5.6%.

Due to the poor first half, however, sales in the nine months to the end of December fell by 2.9% to EUR178.8m.

"Third-quarter activity benefited from continued strong demand from outside Europe, and especially from the US and Japan," said Laurent-Perrier yesterday. "Shipments to Europe, and to the UK and Germany in particular, have started to recover."

Looking at the final quarter of the fiscal year, the company said it "expects to continue improving its performance", with its hopes pinned on markets outside Europe, "which generally make a greater contribution to brand turnover at this time of year".

Laurent-Perrier will announce its full-year results on 27 May.

In June last year, the company posted a slight rise in full-year sales, although profits were down by almost 7%.

To read yesterday's statement, click here.