FRANCE: Year-so-far Pernod Ricard sales rise, but FOREX takes grip
The France-based wine and spirits company said today (30 April) that net sales between July and March rose by 3.9% on the corresponding period a year earlier, coming in at EUR5.09bn (US$7.91bn). Organic growth of 9.3% was tempered by a 1.6% negative impact from unit disposals, and a 3.6% negative foreign currency impact.
While Asia and the Rest of the World, delivered an 8.7% increase in value, the Americas struggled somewhat, slipping by 3.8%. In North America, the company said, the environment for Kahlua, Chivas Regal and Beefeater was described as "difficult". Europe, excluding France, saw sales rise by 5.4%, with France delivering growth of 6% in the nine-month period.
Net sales in the third quarter registered a slowdown, however, slipping by 1% year-on-year to EUR1.38bn. The organic growth of 7.1% was held back by negative foreign exchange and group structure impacts of 6.2% and 1.7% respectively.
The company warned that the negative currency impact at current exchange rates should be between EUR100m and EUR110m on full-year operating profit.
"The dynamism noted in the third quarter of 2007/08 is in line with our expectations and again reflects the quality of our brands portfolio and the strength of our distribution network," said Pernod's chairman and CEO, Patrick Ricard. "Sales for the first nine months of the 2007/08 financial year enable us to confirm our 2007/08 full-year guidance for growth in operating profit from ordinary activities, on a like-for-like basis of at least +12%."
Despite losing their largest market when Russia imposed an export ban in 2006, Georgian wine producers are confidently pursuing other markets. Indeed, the embargo acted as a catalyst for improvements ...
The strong growth in the US market for wines and spirits is certain to be checked by the financial crisis. But Chris Losh found wines and spirits companies to be relatively sanguine about the US in sp...
Fortune Brands has seen sales at its Beam Global Spirits & Wine division flatten in the first nine months of this year, as operating profit fell by over a half at the group....
Pernod Ricard has unveiled a consumer advertising campaign for The Glenlivet range in the US....
The top ten stories published on just-drinks this week:...
Fortune Brands has completed its deal to buy Cruzan rum from Pernod Ricard, as the French wine and spirits giant officially exits the Maxxium venture....
Any lingering doubts that we have wandered into a financial quagmire can now be dispelled. The question is how far down we will sink....
A $700bn government bailout designed to prop up financial markets is vital for the US business climate, president George W Bush has said ahead of a crucial vote in Congress....
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Is Brown-Forman at the end of the SoCo road?
- Will a sexed-up SABMiller tempt AB InBev?
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- AB InBev makes formal offer for SABMiller
- Diageo secures Xerox Corp CFO as finance head
- Tesco pulls several Carlsberg SKUs in UK
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research