• Q3 sales rise by 5% to EUR1.62bn (US$2.41bn)
  • Emerging markets stay “strong”, mature markets “stable”
  • Nine-month sales up by 11% to EUR5.90bn
  • Reiterates targeted growth of close to 7% for FY operating profits
Pernod Ricard released its Q3 trading update earlier today

Pernod Ricard released its Q3 trading update earlier today

Pernod Ricard has posted a rise in sales for its third quarter, despite a flat performance in the company's more developed markets.

The French wine and spirits group said in a trading update earlier today (5 May) that sales in the three months to the end of March came in 5% up on the same period a year earlier, at EUR1.62bn (US$2.41bn). While emerging markets delivered 15% sales growth in the quarter, Pernod described sales in mature markets as “stable”.

For the first nine months of Pernod's fiscal year, net sales totalled EUR5.90bn, an increase of 11%, with emerging markets coming in 16% up and mature markets posting a 2% rise on year-earlier sales.

Asia/Rest of the World continues to be Pernod's most dynamic region, with sales growth of 23% to EUR2.16bn. The region now accounts for 37% of group sales, compared to 33% in the first nine months of fiscal 2009/2010.

China and India were credited with posting “outstanding growth”, while  other emerging markets such as Vietnam, Africa and Turkey are “expanding rapidly”.

“The third quarter confirmed the improved business trends since the start of the financial year and strengthens our confidence in our ability to meet our targets,” said Pernod's CEO, Pierre Pringuet. The company is looking to deliver organic growth in profits from recurring operations of “close to +7% for the full 2010/11 financial year”, Pringuet concluded.

Pernod will deliver its full-year results in early-September.

To read the official release, click here.