FRANCE: Allied stable drives Pernod H1 sales
Pernod Ricard has seen its former Allied Domecq stable drive a leap in first-half net sales.
The French drinks giant today (9 February) reported a 67% jump in net sales to EUR3.3bn (US$3.95bn) for the six months to 31 December.
Pernod said the Allied portfolio contributed EUR1.2bn in revenues during the period, with the greatest impact being felt in its operations in North America, where net sales more than doubled. Sales in Pernod's Asian and Rest of the World markets, Europe and France all enjoyed strong double-digit growth.
Nevertheless, the company saw a strong performance from its pre-Allied portfolio and posted organic sales growth of 4.5%. Pernod said premium spirits brands including Chivas Regal Scotch whisky, Martell Cognac and Jameson Irish whiskey "continued their spectacular volume progression". Overall spirits sales, excluding the former Allied stable, rose 6.4%.
Pernod, however, saw wine sales fall 4.4%, largely due to the wine glut in Australia, where the company owns the Orlando Wyndham wine business.
Pernod said the integration of the Allied business would be complete by the end of March after integrating the company's operations in South Korea and Canada.
The company added that a series of sell-offs - including the sale of Scotch whiskies Glen Grant, Old Smuggler and Braemar - would see a "significant reduction" in debt by the middle of this year.
Pernod's full first-half financial figures will be published on 23 March.
It's been a quiet day on the Pernod/Allied Domecq front....
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Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
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