FRANCE: Pernod Ricard YTD sales up, confirms FY target
- Group nine-month sales rise by 5% to EUR6.65bn (US$8.74bn)
- Europe flat, while China, India, Russia stay "main growth drivers"
- Group Q3 sales up by 2% to EUR1.7bn
- Confirms FY guidance of 6% organic profit growth
Pernod says it is showing "good resilience"
Net sales increased by 5% to EUR6.65bn (US$8.74bn) in the nine months to the end of March, the Paris-based company said today (25 April). In Q3, net sales were up by 2% to EUR1.7bn.
Russia was the main driver of growth in Eastern Europe with YTD net sales up by 19% organically, while India increased its net sales by 17% over the same period. China continued to impress for Pernod (net sales up by 11% organically), however the company noted weakness in Q3, while Scotch whisky growth in the country slowed.
There were also concerns over Western Europe, where net sales fell 3% organically. However, the company said there was “renewed growth” in the UK and Ireland.
Pernod CEO Pierre Pringuet, who confirmed the company's full-year estimate of 6% organic growth, said: “Pernod Ricard’s business demonstrated good resilience in...a less favourable economic environment.”
Today's YTD results were in line with Pernod's first-half numbers, which also saw net sales rise by 5%
Pernod's share price fell this morning, by 2.3% to EUR94.68 at 1012 CET.
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To read the company's statement, click here
Over the last 10 years of rapid acquisitions, Pernod Ricard has built a strong portfolio of premium brands on a global scale. Most of its brands enjoy a leading position in international markets. The ...
With very limited resources for expansion through acquisition until at least 2015, Pernod Ricard’s key focus has to be through organic growth. The profile looks at how its current portfolio of brands ...
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