Olly Wehring

Pernod FY - a little bit good, a little bit bad

By: Olly Wehring - 1 August 2007 15:41

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Pernod Ricard's full-year figures, released late last week, suggested that the French company has both good and bad on its plate.

A stronger performance in its home market gave Pernod cause to cheer, certainly, as did an 11% organic lift in sales from its spirits portfolio. However, sales in Asia took a knock from a disappointing performance in Thailand, where the political situation has not lent itself to a lively market place for drinks. And, with the wine portfolio delivering only 1.3% growth in the year, there certainly remain causes for concern for Pernod.

One way to make the balance book look healthy, of course, is to go shopping - just ask Constellation, for example. Indeed, with Absolut expected to come up for sale in the coming months, Pernod has already expressed its interest in the Swedish vodka brand.

Pernod is aware, however, that it will prove tough to keep hold of Stolichnaya at the same time. Managing director Pierre Pringuet conceded that Pernod would struggle on both the financial and regulatory fronts to have two vodka brands in its portfolio. Which one it eventually favours will prove interesting reading – we’ll keep you posted.

In the meantime, click here for an in-depth analysis of Pernod's full-year sales results.

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