FRANCE: Pernod Ricard meets 2002 sales targets
For the fourth quarter the wine & spirits division reported sales of €1,110m, while the full 2002 saw sales of €3,407m.
Pernod said sales of Seagram brands amounted to €1,416m, a rise of 3.8% on the 2002 pro-forma figure, despite a €97m adverse currency impact (-7.1%). Pro-forma organic growth was 2.8%. The €65m impact of consolidation changes (+4.8%) was attributable chiefly to sales of Sandeman and Four Roses, for which Pernod Ricard is now the distributor, the company said.
Meanwhile, Pernod Ricard's historical brands generated sales of €1,991m, a rise of 3.8%. This broke down into 4.4% cent organic growth and a 2.5% adverse currency impact.
In particular, Amaro Ramazzotti gained of 14%, Jacob's Creek and Havana Club were up 12% each, while Jameson saw a rise of 7%. The company said Anis clawed back some of the ground lost in the first nine months of 2002 (Ricard down 2.9% and Pastis 51 down 2.6%), when consumption was down because of poor summer weather.
In a statement Pernod said: "Thanks to firm fourth-quarter sales, and despite the Latin American crisis and adverse currency movements, Pernod Ricard is set to comfortably achieve its financial targets for 2002."
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