Turnover at Groupe Taittinger, the French Champagne, hotel and luxury goods group, fell by 4.8% in the first half of 2003 to €355.2m (US$398.7m), from €373.2m (US$419m) in the first half of 2002.

However, sales at the company's wine and Champagnes division rose by 2% to €38.3m (US$43m). Turnover at Taittinger's luxury goods and hotels subsidiary, Societe du Louvre, fell by 5.4% to €316.9m (US$355.7m).