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News
Ricard-Breaking Results
Pernod Ricard’s first-half 2005 results are in, showing net profit of €182m, €287m operating profit and 7.9% organic growth.
Wine and spirit sales were up 9.4% (€1.6m) following volume growth on key brands such as Chivas Regal (+19%), Jameson (+13%) and Martell (+8%). This growth in key brands was evident in all markets other than France where operating profit fell by 9.6% following increased advertising and marketing expenditure.
New areas of growth in Eastern Europe, such as Russia and the Czech Republic, have performed well. South America also displayed pleasing results for the group, almost doubling its operating profit through growth in the imported whisky sector.
Also reported this month was Pernod Ricard’s acquisition of the US distribution rights to the Stolichnaya vodka brand. programme, netting investors some £1.4 billion. Meanwhile, the newly appointed Heineken chief, Jean-Francois van Boxmeer has promised to shake-up corporate culture at the brewer. “I would like to raise the sense of urgency and