FRANCE: Pernod Ricard's Q1 adds to Asia slowdown fears - analyst
Investec noted Pernod's cautious tone on Asia
Earlier today (25 October), the French firm reported a first-quarter global sales rise of 5%, but pointed to "more moderate" growth in Asia's emerging markets. The company saw an organic sales uplift of 11% in Asia/Rest of the World.
Depite the double-digit rise, analysts Investec said it viewed the results as a "miss" on estimates that will "compound market fears on a slowdown in Asia".
It noted that Pernod said China is a "less favourable environment", while the Scotch whisky category has seen a slowdown in South Korea and Thailand, which are "structurally challenging markets". Investec noted this as "quite a change of tone to FY12" from Pernod.
However, UBS said in a note that Pernod's Asia/ROW performance was in line with its estimates and China was up 18% year-on-year, against tough comparisons.
Meanwhile, Investec noted "cautious" FY guidance from Pernod, adding: "Whether Pernod can repeat its tradtional trick of upgrading guidance at H1 remains to be seen".
In this month's management briefing, Ben Cooper looks at the alcoholic drinks industry's attempts to reduce alcohol harm and promote responsible consumption. Part one of this four-part briefing consid...
Over the last 10 years of rapid acquisitions, Pernod Ricard has built a strong portfolio of premium brands on a global scale. Most of its brands enjoy a leading position in international markets. The ...
The fourth and final part of this month's management briefing sees Ben Cooper consider how the future looks for the drinks industry's attempts to deal with alcohol harm and responsible consumption....
This weekend marked the fifth anniversary of Pernod Ricard's acquisition of Vin & Sprit and the Absolut vodka brand. A lot has changed since those heady days of 2008, so how does the race for - and pu...
- No Home Comfort for TWE as Bids Collapse
- Bacardi Seeks Own History at Bombay Sapphire Home
- Treasury Wine Estates: Here I Go Again On My Own
- NPD: The Craft Cocktail Revolution
- Private-equity bids "over" - TWE head
- Carlsberg suspends production at Russian brewery
- Anheuser-Busch InBev appoints new AmBev CEO
- Treasury Wine Estates pulls plug on takeover talks
- Suntory Holdings to split beer, spirits division
- Quintessential Brands changes MD at Essential unit