Laurent-Perrier: first-half results down

(CercleFinance.com) - Last night, Laurent-Perrier reported lower half-year results, against the backdrop of a champagne market down on recent years.


After three years of strong growth, the group reported operating income of 38.8 million euros for the first half of its 2024-2025 financial year, ending September, compared with 57.4 million euros a year earlier.

Its operating margin - calculated on champagne sales - came to 30.1% at current exchange rates, compared with 37.8% for the same period last year, a level of profitability that the company considers as still 'high' and higher than in previous Covid years.

Net profit came to 25.3 million euros at current exchange rates, down 34.5% year-on-year.

Group sales for the period were down 17% at 132 million euros, in a champagne market down 9.7% in volume terms over the interval.

With regard to its outlook, the company indicated that the geopolitical context, as well as the economic situation in some of its key markets, would require it to be "very cautious" in the months ahead.

Following these results, which Oddo BHF analysts judged to be "without major surprises", Laurent-Perrier shares were up 0.6% on Friday morning on the Paris Bourse in early trading.

Copyright (c) 2024 CercleFinance.com. All rights reserved.