just The Preview - Pernod Ricard Q4 and FY
Pernod Ricard will report results for its fiscal fourth quarter and full year on Thursday (30 August)
Pernod Ricard will report results for its fiscal fourth quarter and full-year on Thursday (30 August). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of June.
- Thursday's results are sure to be overshadowed by the unexpected death last week of Pernod's chairman and former CEO Patrick Ricard.
- However, it has been a busy year for Pernod and the company will be looking to the future and to build on the legacy that Patrick helped create at the French spirits house. Part of that legacy is Pernod's long-running feud with Bacardi over the Havana Club trademark, a battle that took another twist in May when Pernod unveiled a new Cuban rum brand for the US called Havanista. It can only be sold in the US if authorities there lift a 52-year-old trade embargo, which made sitting through the product launch a strange experience for some.
- Emerging markets have been a highlight in recent results from Pernod's rivals, but an analyst has warned the French company wasn't working hard enough in developing regions. Nomura said Pernod has a “historical under-representation in some key geographies” such as Latin America and Africa that has held back performance in Scotch, despite a strong presence in Asia.
- Perhaps looking to cement its position in Asia, Pernod announced on 25 May it was in discussions with South Korean drinks firms Hitejinro to buy its 30% stake in Pernod Ricard Korea Imperial. The deal was closed in June.
- Diageo looked set to leapfrog Pernod's position as Brazil's leading spirits maker with its purchase of cachaça brand Ypióca. The deal, confirmed on 28 May, is worth BRL900m (US$453.9m), and should make life more interesting in South America for Pernod.
- At the end of the month, Pernod announced it would commit an annual GBP40m (US$62.2m) investment to keep up with demand for its Scotch brands in emerging markets. The company said it will open a new bottling hall at one of its plants in Scotland.
- Refuting analysts' earlier warnings the company wasn't doing enough in Africa, a Pernod executive outlined to just-drinks its latest moves on the continent. “Africa remains virgin territory for international spirits,” MD of distribution Alex Ricard said in June. “We know we're not too late.”
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