FRANCE: Pernod profits hit by exchange rate
The French wines and spirits group Pernod Ricard today unveiled 2003 group net profit of €464m, up 12.3% on the year before.
Wine and spirit operating profits reached €737m. The result was hit by a negative currency impact of €83m, but at a constant exchange increased 15.5%.
Wine and spirits sales amounted to €3.4 billion, reflecting a significant negative currency effect (- 8.3%) but organic growth of 8.1%, which arose from good results achieved by most brands, both global and local, throughout the world.
A statement said that the board of directors of Pernod Ricard will propose to the Annual Shareholders Meeting of 17 May 2004 a cash dividend per share of € 1.96, up 8.9% over the previous year.
Patrick Ricard, chairman and chief executive officer said: "I am very satisfied with the Group's 2003 fiscal year results, and particularly the strong growth in our Wine & Spirits business profitability".
He added : "Our portfolio of premium brands and our presence in high growth markets support our confident view of the future." The Group anticipates that therefore it will enjoy during 2004, a growth in operating profit on a constant exchange rate basis.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Maxxium Worldwide could come under pressure if Pernod and Fortune's Allied Domecq bid is successful, according to press reports today (14 April)....
It's been a quiet day on the Pernod/Allied Domecq front....
Conflicting reports circulated this weekend over whether Bacardi International is looking to form a counter-bid for Allied Domecq....
Todays press reports into Pernod and Fortune's hopes to buy Allied Domecq warn of possible conflicts and set a date for completion....
Pernod Ricard and Fortune Brands are considering a US$13 billion bid for Allied Domecq, the world's second-largest spirits company. Were it to take place, Pernod and Fortune would split Allied's brand...
Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
- Brown-Forman's march on premium whisk(e)y -Comment
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Where does AB InBev see the future of beer?
- Should Boston Beer Co put up the For Sale sign?
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends