Pernod Ricard sees sales lift in Q1
- Sales return to growth in Q1, inching up by 1% to EUR2.04bn (US$2.59bn)
- Asia-Rest of the World, Americas drive sales in three months to end of September
- Profits for full fiscal-year expected to come in between +1% and +3%
- For a breakdown of the quarterly sales by brand, click here
Pernod Ricard's sales inched up in its first quarter, with full-year profits forecast to rise
Pernod Ricard has trumpeted a return to sales growth in its first quarter, despite a "mixed performance" in Europe.
Sales in the three months to the end of September inched up by 1% year-on-year, coming in at EUR2.04bn (US$2.59bn). The company's Asia-Rest of the World region posted a 5% rise in sales, at EUR855m while Europe's performance, a slide of 2% to EUR652m, was described by Pernod as mixed.
Sales in the Americas were flat, coming in at EUR530m.
The overall Q1 performance comes on the back of a 7% fall in full-year sales, announced in August.
CEO Pierre Pringuet:
“Pernod Ricard’s return to growth in the first quarter illustrates the group’s resilience in a difficult context. We are confident in the strength of our portfolio and distribution network. The roll-out of project Allegro will contribute to strengthening our operational efficiency.”
"Our 2014/15 guidance is organic growth in profit from recurring operations between +1% and +3%.”
Last week, Pernod's main rival, Diageo, reported a 1.5% dip in Q1 sales, a performance that the firm said was "in line with expectations".
To read the company's official statement, click here.
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