Market research
- Sales in first six months dip 0.3% to EUR94.7m (US$112.4m)
Laurent-Perrier has reported flat sales for the first half of its current fiscal year, representing an improvement on the corresponding period a year ago.
Laurent Perrier saw organic sales come in flat for H1 fiscal-2018
The listed Champagne house said late last week that organic sales in the six months to the end of September were down 0.3%. On a reported basis - including ForEx effects and "third-party activities" - the group saw six-month sales fall by 3.2%. The decrease follows a 3.7% fall in reported sales in H1 2017.
Laurent-Perrier said the launch of La Cuvée in the half-year contributed to "organic sales stability", although it also impacted the bottom line.
On an organic basis, operating profits dropped 4.3% to EUR16.9m. Meanwhile, group net profits tumbled 24% to EUR7.9m.
"Against the backdrop of a flat market by volume and under pressure by value, Laurent-Perrier has maintained its turnover figure excluding currency effects and third-party activity, largely thanks to the launch of La Cuvée and a very favourable price/mix effect," said chairman Stéphane Dalyac. "Benefiting from the acknowledged quality of its Champagnes, from a strong balance sheet and its energetic workforce, the group will maintain the course of its growth strategy."
Looking forward, the company said first-half performance "cannot be extrapolated to the second due to the strongly seasonal nature of our business.
"In an uncertain economic and monetary environment, Laurent-Perrier will maintain the course of its value strategy."
To read Laurent-Perrier's official statement, click here.
Why 2017 has been the most dramatic year in living memory for wine - Click here for a just-drinks comment
Sectors: Company results, Wine
