- Fiscal third quarter sees sales jump 19.1% to EUR1.96bn (US$2.36bn)
- Strong showing returns group to top-line growth – +1.7% in nine months to end of March (EUR6.94bn)
- China records triple-digit sales jump in Q3
- Final quarter – to end of June – expected to “accelerate”
Pernod Ricard is the latest brand owner to have enjoyed a strong sales bounceback in the first three months of 2021, with the group’s top-line leaping by almost 20%.
The healthy showing in the January to March period – Pernod’s fiscal Q3 – may lag Moet Hennessy’s +36% sales increase, announced this month, but has returned Pernod to growth for its year to date. Nine-month sales came in 1.7% up on the corresponding period a year earlier, building on the 3.9% sales decline from the six months to the end of December.
On a market basis, Pernod’s ‘Asia/Rest of World’ reporting region drove the quarterly performance, jumping 36% in comparison to the COVID-ravaged three months a year earlier. China was up by triple digits thanks to an “excellent” Chinese New Year. Elsewhere, the US delivered a 6% sales increase as a “dynamic” off-premise showing offset a “softer” performance by the company’s Jameson Irish whiskey brand in the country.
The Global Travel Retail channel remains in the doldrums for alcohol brand owners, however: Pernod’s quarterly sales in GTR were down 50%.
Brand-wise, Pernod’s ‘Strategic International Brands’ line-up included increasing sales for Jameson, Malibu, Martell and The Glenlivet, although Absolut and the blended Scotch whisky portfolio – which includes Chivas Regal – struggled in part because of their larger presence in GTR.
CEO Alex Ricard
“Our Q3 was excellent, marking a return to organic sales growth for 9M FY21. This confirms the strength of our business, with strong dynamism of our domestic must-win markets and good resilience throughout.
“In a still uncertain and volatile global context, with the current information available on the pandemic, we will continue to implement our strategy while actively managing resources, in particular strongly reinvesting where efficient. We expect our sales to accelerate in Q4 … .”
To access Pernod Ricard’s official Q3 and fiscal year-to-date results announcement, click here.