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FRANCE: Pernod hails Chinese New Year in Q3

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Pernod Ricard has recorded a lift in Q3 sales, thanks in part to a strong performance during the Chinese New Year.

The France-based wine and spirits company said today (4 May) that consolidated sales in the three months to 31 March increased by 6.8% to EUR1.4bn (US$1.9bn). Pernod credited "vigorous Europe sales, successful Chinese New Year-related sales and (the) recovery of the wine business" for the performance.

For the nine months to the end of March, sales were up by 7.2% on the corresponding period a year earlier, totalling EUR4.9bn.

While Europe saw sales lift by 5.8%, the Americas produced a 5.5% increase, with Asia and the rest of the world generating a 12.1% climb. France was up a less impressive 2.6% on the corresponding quarter a year earlier.

Pernod warned, however, that the continuing decline of the US dollar, a handful of Asian currencies and the Mexican peso against the euro would affect full-year operating profit to the tune of around EUR80m.

"These very good results are in line with our expectations and indicate favourable prospects for the second half year," said company chairman and CEO Patrick Ricard. "We therefore confirm guidance of around 20% growth in net profit from ordinary activities, excluding foreign exchange impact, for the full year."


Sectors: Spirits, Wine

Companies: Pernod Ricard, Ricard

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