The Champagne house, Laurent-Perrier, posted sales of €137.07m for the nine months to the end of December 2002, 12.5% up on the corresponding period last year. The company said it was expecting sales growth towards the top of the 5% to 10% range for the full year.

However, Laurent-Perrier said revenue growth slowed to 9.5% in the third quarter, with sales up from €61.2m to €67m. Growth at the half-year stage had been 16%.

Laurent-Perrier said the market had stablised during the third quarter after a mid-year recovery. Champagne shipments, according to the company, rose by between 8% and 10% to between 285m and 290m bottles during 2002, bringing the market back up to the level seen in 1998.