Champagne group Laurent-Perrier has reported consolidated turnover for the first 6 months of 2003/2004 of €69.95m, virtually unchanged at – 0.1% on the same period last year.
Go deeper with GlobalData
The company pointed out that the €70.05m reached in the first half of 2002/2003, represented a considerable rise (+15.6%) compared to the same period in 2001/2002.
“This sustained high level of activity deserves to be emphasised at a time when both the mediocre economic climate in France and unfavourable export exchange rates are weighing heavily on turnover, it said in a statement.
At constant exchange rates and on a comparable brand perimeter basis, the group’s turnover would be up by 6.7%.
“The positive price/mix effect shows that Laurent-Perrier is successfully pursuing its value policy,” the company said.
However, after the strong 24.9% increase recorded in 2002/2003 at the same date, operating profit showed an anticipated decline to €10.39 m.
Net income reached €3.50m compared to €4.13m compared to last year’s first half. The company blamed a joint-venture created in Japan with some other French wine prestige producers. This semester is the first time when the group’s results include a consolidation with those of the new Japanese entity, which show a slight loss.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLaurent Perrier announced in October that it had reached an agreement with Château Malakoff on their tie-up. The tie-up should be finalised at the beginning of 2004 the company said.
“Château Malakoff’s integration in the group would allow Laurent-Perrier, with an annual turnover of about €200m, to strengthen its position in France and on export markets, while retaining its status of independent family company and confirming its roots in the Champagne region,” it said.
Laurent-Perrier said a temporary slowdown in deliveries in certain countries – notably in France – and the unfavourable exchange rates, are having an adverse effect on the consolidated profit and loss account, but they should not stand in the way of a strategic redeployment which will prove fully and durably profitable once these factors are reversed.
“Over the current financial period, the results of Laurent-Perrier should thus be temporarily impacted,” a statement said.
