Rebounding demand for Champagne outside of France has boosted both sales and profits for Laurent-Perrier in the first six months of its fiscal year, even though consumers have continued to pay less for the group’s Champagne brands.
Laurent-Perrier’s net sales rose by 23% for the six months to the end of September, to EUR81.2m (US$105.6m), the group announced today (1 December). Sales rose faster in the second quarter and the group’s president, Michel Boulaire, predicted a “a new growth period” for Champagne following tough times in the global recession.
Profits for the half-year leapt by 71% on the same period of last year, to EUR2.96m, predominantly driven by lower interest charges as a result of lower net debt. Operating profits rose by 10% to EUR10m.
A rebound in key export markets, particularly the UK and US, boosted Laurent-Perrier over the six months.
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