Pernod Ricard reported its nine-month sales figures earlier today

Pernod Ricard reported its nine-month sales figures earlier today

Earlier today (24 April), Pernod Ricard released its nine-month sales results. Here is a closer look at the company's performance by region and by brand.

Regions

  • The Europe region (34.5% of the group's sales) – which now includes France for Pernod – saw sales in the year-to-date slip by 2%. In Q3, sales were down by 7%. Western Europe was stable while Eastern Europe posted growth in organic terms of 9%. The third quarter was affected by the later Easter, as well as excise duty and price increases in some markets.
  • Asia/Rest of World (39.4% of group sales) was down by 12% in the first nine months of Pernod's current fiscal year. In Q3, sales fell by 9%, and by 1% in organic terms. The company's performance in China was affected by destocking in Q3, which Pernod said was anticipated. Stripping out China, however, organic sales in the region rose by 5%. India and Travel Retail were credited with “very good” performances, although Korea and Thailand “remained difficult”.
  • The Americas (26.1% of group sales) reported a 6% dip in YTD sales, although a 4% lift was reported in organic terms. In the three months to the end of March, the region was down by 5%. The forex impact was felt particularly badly in both the nine months and the third quarter. Brazil performed well in the second six months of the nine-month period, while the US delivered “good growth” that “slowed down slightly compared with the half-year”.

Brands

  • Pernod's "Top 14" brands reported a 1% dip in net sales in the nine months to the end of March, on the back of flat volumes.
  • Absolut came in flat, with volumes slipping by 3%.
  • Chivas Regal was down in both sales and volumes, by 2% and 6%, respectively.
  • Jameson was the star performer in the YTD, with sales jumping by 13% and volumes climbing by 10%.
  • Havana Club also performed well, posting sales growth of 3% on a 1% increase in volumes.
  • Beefeater was up by 1% in sales and by 2% in volumes.
  • Martell suffered thanks to the ongoing problems in China: Sales fell by 9% as volumes decreased by 7%.
  • Mumm was down by 1% in sales and by 2% in volumes.
  • Perrier-Jouët had an excellent nine months, with sales leaping by 17% on an 8% lift in volumes.

Expert analysis

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