FRANCE: Pernod FY sales lift despite wine slowdown
The France-based wine and spirits giant said today (26 July) that net sales in the year to the end of June rose by 6.2% year-on-year, reaching EUR6.4bn (US$). In organic terms, sales were up 9.1% in organic terms, with a negative foreign excahnge effect of -2.8%.
While the spirits portfolio rose by 11%, the wine business performed less impressivley, increasing by only 1.3% on 2005/2006.
Asia/Rest of the World led the company's regions in growth, lifting 9.7% to EUR1.9bn, with Martell Cognac and Pernod's whisky portfolio performing well. The Americas delivered growth of 5.4%, coming in at EUR1.78bn. While Europe saw sales lift by 4.5% to EUR2.1bn, Pernod's home market of France was up by 4.2% to EUR682m.
"2006/2007 was a further year of very strong growth for Pernod Ricard which witnessed progress by all strategic brands," said company chairman and CEO, Patrick Ricard. "The great success of our premium brands and our rapid growth in emerging countries were the two principal drivers of this performance and should ensure continued vigorous growth for the year in progress."
Pernod concluded by forecasting growth in annual net profit to come in slightly in excess of initial guidance of 20%, on a constant foreign exchange basis.
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