Blog: The American way
Chris Brook-Carter | 4 November 2003
Following a similar story for rival Allied Domecq a couple of weeks ago, Pernod was hit for €207m in what was an otherwise encouraging set of results, with underlying sales growth up 8.5% in the period.
Interestingly, just-drinks is attending a seminar this evening held by the Wine & Spirit Association on treasury and foreign exchange risk management. In view of the strengthening euro and the effect it has had on the drinks trade in the last 12 months, it should prove to be an interesting discussion.
Away from forex issues, the US continues to show encouraging signs of a recovery. Pernod said its US wine and spirits sales enjoyed accelerated organic growth during the 3rd quarter driven by an economic recovery in the country, and achieved a nine-month cumulative growth rate of 10.8%. Combined with Allied’s news two weeks ago that the strength of its US division helped negate a weaker Eurozone, there appears to be light at the end of the tunnel.
This assumption is also borne out outside the drinks industry. From July to September, said the Commerce Department, the US economy recorded its fastest growth rate since 1984, with a 7.2% rise in GDP. That said there are still concerns. In particular, the bears point to the still high levels of unemployment and continuing anxiety among investors. The next six months will attract a lot of attention as the US audience tries to gauge whether this recovery is sustainable.
It would appear that the folk at the UK arm of Carlsberg have this year found the 'gimmicky' drawer in the marketing office....
It's a popular grizzle and one I'll admit to having on at least one or two occasions… a day. Why do people post photos of their food and/or drink on to my social media feed?...
After a 2014 it'll want to forget, Treasury Wine Estates has some good news....
The garden shed is usually home to some spiders, a lawnmower and a few half-empty paint tins. ...
- It's not all bad for Diageo - Analysis
- Focus - Diageo's FY Performance by Region
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Heineken CEO spies trouble ahead for UK
- Challenges remain as Diageo posts flat FY sales
- Edrington appoints new board director
- Diageo puts Bacardi in frame with white rum ads
- Heineken ups sales, profits despite volume squeeze
- Mast-Jagermeister closes Sidney Frank buy
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research