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The head of Pernod Ricard has called for greater clarity on the future business environment as the UK prepares to exit the European Union.

Pernod Ricard may look to up the shipments of its spirits exports from the UK ahead of the countrys departure from the European Union next year, according to CEO Alex Ricard

Pernod Ricard may look to up the shipments of its spirits exports from the UK ahead of the country's departure from the European Union next year, according to CEO Alex Ricard

Speaking at a post-results press conference in London today, group CEO Alex Ricard warned that the outcome of negotiations between the two sides remains unclear, with the departure deadline only seven months away. Ricard also admitted that he hopes both the UK and the EU will be satisfied with the final exit arrangements.

"It doesn't matter what the outcome of Brexit will be," he said today. "There will still be people, there will still be bars and there will still be consumption.

"Ideally, I'd like to have clarity and visibility, so we can do our strategic planning."

Ricard also warned that, were the UK's departure to result in what he called "a logistics nightmare", then the company would look to ship and warehouse its exports from the UK, such as Beefeater Gin and its Scotch whisky portfolio, "ahead of time".

"At the end of the day," he continued, "we have learned how to be extremely flexible. We'll manage. Were it up to me, everybody will win on all sides, but who am I to say?"

The date for the UK's departure, set by the triggering of Article 50 by the country, is 29 March next year.

In the company's full-year results for fiscal-2018, announced yesterday, Pernod flagged the "uncertain geopolitical and monetary environment" in its outlook, but noted that it expects "broad-based sales growth to continue" in the current fiscal year, to the end of June 2019.

Pernod Ricard Performance Trends 2013-2017 - results data


Sectors: Company results, Spirits, Wine

Companies: Pernod Ricard

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