Laurent-Perrier : FY 2019-20 results broadly in line with our expectations. The group remains confident it can ride out the crisis
>Sales of € 242.4m slightly below forecasts with organic growth of -1.7% (vs -1.5%e) for champagne. Operating profit stable at € 41.2m in line with our forecast - For FY 2019-20, Laurent Perrier reported full-year results broadly in line with expectations. Sales came to € 242.2m, slightly below our forecast (€ 247.8m) and the consensus (€ 245m). Champagne sales were € 231.3m, down -1.2% on a reported basis and -1.7% organic, close to our forecast of -1.5% l-f-l. The p...Laurent-Perrier is a holding company. Through its subsidiaries, Co. is engaged in the production and distribution of champagne. Its products are sold through four main brands, which are Laurent-Perrier, Salon, Delamotte and Champagne de Castellane. Co.'s vineyards are held either directly by Co. or jointly with other growers through various real-estate companies. Co. organizes its business activities under three different types of legal entities: Champagne houses, Distribution subsidiaries, and Vineyards. For most of its export markets, Co.'s products are sold through specialized distribution networks such as cafes, hotels and restaurants, wine merchants and direct sales.
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