FRANCE: Pernod sales up 21% in Q1
Pernod Ricard, the French drinks giant, reported a 20.8% rise in consolidated sales excluding duty and tax to €1,191m for the first quarter ending 31 March 2002.
In a statement, Pernod said the increase was attributable to two contrasting changes, the acquisition of Seagram and the sale of Orangina and San Giorgio Flavors. Excluding currencies (a positive impact of 1.4%) and consolidation changes, organic growth was 4.2%.
The Spirits and Wine division saw a steep 75% rise in first-quarter sales (ex duty and tax) to €644 million. Sales generated by Seagram brands amounted to €250million.
"This figure must be seen in the light of two factors specific to the first quarter, firstly the gradual integration of these brands in certain countries, and secondly the impact of overstocking by Seagram in first-half 2001. Stripping out these non-recurring items, sales amount to some €300m, in line with the year's target of €1.5 billion," Pernod said in the statement.
The non-Seagram brands generated sales of €394m, up 3.1% in organic terms. This follows a hefty 14.5% increase in first-quarter 2001.
"Most of that difference can be explained by the fact that, with the introduction of the euro, price rises in France were deferred to second-quarter 2002. This impact was no longer visible at end April," Pernod said.
In the non-core businesses, sales of the Fruit Preparations division were €205m, down 32% as a result of asset disposals in 2001. Excluding currencies and consolidation impacts, organic growth was 3.4%. The Distribution division reported sales of €341 million, up 8.1% (6.2% like-for-like).
The inclusion of Seagram in Pernod Ricard's brand portfolio has resulted in a marked geographical shift in business operations, leading to a three-fold increase in sales outside Europe. Accordingly, Europe now accounts for 53% of total spirits and wine sales (France 18%, other Europe 35%) and the rest of the world accounts for 47% (Americas 28%, Africa-Pacific Rim 19%).
Chairman and CEO Patrick Ricard said: "Our first-quarter sales figures are highly satisfactory, and I am confident that we will achieve our targets for 2002".
Companies: Pernod Ricard
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....
- How Treasury is rewriting the rule book - Comment
- Craft spirits shake-out will be just the beginning
- Drinkable yogurt - The next drinks opportunity
- Has Diet Coke passed its sell-by date? - Comment
- Coca-Cola India suspends bottling operations
- Diageo brands need "fixing and nurturing" - TWE
- SAB shareholders granted AB InBev vote split
- This week in wine & spirits on just-drinks
- Spirits volumes slide in Global Travel Retail
- Pernod Ricard wins Ron Matusalem 'Cuba' legal row
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages