News

Absolut charge hits profits, but Pernod Ricard "in line" in fiscal-2015

Most popular

The just-drinks Analyst returns

Why spirits must rethink its future positioning

Why spirits should look back to move forwards

The just-drinks Analyst returns

Gaming - the next frontier for drinks marketing

MORE
  • Full-year net profits fall by 14% to EUR880m (US$1.01bn)
  • Absolut takes impairment charge of EUR404m
  • Net sales in 12 months to end of June rise by 8% to EUR8.56bn - +2% in organic terms
  • Reported operating profits increase by 9% to EUR2.24bn, up by 2% organically

Pernod Ricard has reported operating profits within its guidance for fiscal-2015, although the Absolut brand was hit by an impairment charge in the period.

Pernod Ricards FY organic operating profits were up by 2%

Pernod Ricard's FY organic operating profits were up by 2%

While net sales in the 12 months to the end of June were up by 8% in reported terms, and by 2% organically, operating profits increased in the year by 2% in organic terms. The organic performance was in line with guidance of between 1% and 3% growth, which the company confirmed in February.

The company took an impairment charge on its Absolut brand of EUR404m in the period, which was "driven by lower growth in the US".

For coverage of Pernod Ricard's post-results conference call, click here

Sales from the Asia-Rest of the World side of the company were up by 4% as China returned to near-normal levels. Sales in the country were down by 2% compared to a 23% slump in fiscal-2014. The Americas generated a sale lift of 2%, although the US was flat in the year. Europe was also flat, with "difficulties" in Eastern Europe and Travel Retail highlighted.

In the fourth quarter, sales rose by 3%. The three-month performance echoed the third quarter, once the effect of a later Chinese New Year had been factored out.

“Our full year results are solid, delivering improving sales and profit from recurring operations in line with guidance," said CEO Alexandre Ricard. "Our strategy has remained consistent and is delivering results.

"For FY15/16, despite a challenging and volatile macroeconomic environment, we aim to continue gradually improving our business performance."

The battle continues for Pernod Ricard in the US and China - Analysis

To read the company's official statement, click here.


Related Content

Vodka stays

Vodka stays "tough" in US, but Absolut investment remains in-line - Pernod Ricard...

How did Pernod Ricard perform in its fiscal-2018? - results data

How did Pernod Ricard perform in its fiscal-2018? - results data...

How did Pernod Ricard perform in Q3 & YTD fiscal-2019? - results data

How did Pernod Ricard perform in Q3 & YTD fiscal-2019? - results data...

Pernod Ricard half-year fiscal-2018 sales performance - results data

Pernod Ricard half-year fiscal-2018 sales performance - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?