FRANCE: Martell, Glenlivet, Perrier-Jouet shine in Pernod Ricard Q1, but sales growth slows
- Net sales in Q1 rise by 5% to EUR2.2bn (US$2.86bn)
- Asia/RoW delivers "moderate" growth in three months to end of September, up by 11%
- US provides double-digit sales rise
- Targets FY profits growth of 6% for fiscal 2012/13
Pernod Ricard released its Q1 sales results earlier today
The Paris-headquartered group said today (25 October) that group net sales rose by 5% to EUR2.2bn (US$2.86bn) in the three months to the end of September. The company branded the quarter a "good overall performance" in view of what it described as a difficult comparison with the same period last year.
In its Asia/Rest of the World region, Pernod reported a "moderate" organic sales uplift of 11%, with Martell remaining the "main growth driver".
"Jacob's Creek, Absolut vodka and Champagne are continuing to deliver a "strong performance", but the quarter was "challenging" for Scotch whiskies, the group said. China saw an 18% sales uplift, but Africa/Middle East slowed.
In the Americas, Pernod saw organic sales growth of 7%. The US reported a "double-digit" sales rise, partly helped by "pricing acceleration".
The group saw "softness" in Western Europe, excluding France, with sales falling 6%, while Spain remains "challenging".
In Pernod's domestic market of France, sales dropped by 8% in the quarter to EUR149m. This was attributed to tax hikes averaging 14% at the start of the year.
“In a less favourable macro-economic environment we realised a good overall performance in the first quarter,” said Pierre Pringuet, Pernod's CEO.
Looking ahead, he added: “We remain confident in our capacity to continue to grow and are setting a target for organic growth in Profit from Recurring Operations close to +6% for the 2012/13 financial year."
Shares in Pernod were down this morning by 0.30% at EUR84.33.
To read the company's official statement, click here.
In this month's management briefing, Ben Cooper looks at the alcoholic drinks industry's attempts to reduce alcohol harm and promote responsible consumption. Part one of this four-part briefing consid...
Over the last 10 years of rapid acquisitions, Pernod Ricard has built a strong portfolio of premium brands on a global scale. Most of its brands enjoy a leading position in international markets. The ...
The fourth and final part of this month's management briefing sees Ben Cooper consider how the future looks for the drinks industry's attempts to deal with alcohol harm and responsible consumption....
This weekend marked the fifth anniversary of Pernod Ricard's acquisition of Vin & Sprit and the Absolut vodka brand. A lot has changed since those heady days of 2008, so how does the race for - and pu...
- A tobacco analogy soft drinks will want to embrace
- Pernod's Portman Group penalty - a coincidence?
- just The Preview - SABMiller's Q1
- just Five Years Ago: A-B InBev sells Oriental
- Cleaning China's seedier side brings Remy balance
- Diageo faces public consultation over W&M sale
- Diageo's Captain Morgan Facebook ad banned
- William Grant silent on Drambuie bid talk
- Bacardi to fight US football team legal action
- Remy posts Q1 sales drop as Edrington loss bites