Pernod posts ‘solid’ quarterly results

Pernod Ricard’s strong US performance has helped its overall sales grow 3% organically to €6.8 billion in the nine months to 31 March.

Pernod Ricard CEO Alexandre Ricard (Photo: Pernod Ricard)

Strong growth in the Americas, up 6% in the year-to-date, came off the back of enhanced by shipment phasing to the US, Pernod Ricard reported.

The French company also saw small gains in Asia-Rest of the World, up 2%, with continued strong growth in India and Africa. However, there was a further decline in China due in part to the early Chinese New Year, the company said.

Meanwhile, the Jameson and Jacob’s Creek owner saw resilient sales in Europe, up +1% in the year-to-date, driven mainly by Spain.

Sales for the third quarter totalled €1.9 billion, including organic growth of +1%.

However, this was countered by negative currency effects in emerging markets, which dragged Pernod’s reported growth to -4%.

Alexandre Ricard, chairman and CEO, said: “Our strategy has remained consistent and is driving results: innovation is accelerating; operational excellence is driving efficiencies; our ongoing initiatives in the USA are starting to deliver; we are working actively to develop the new phase of growth in China, where we remain confident in the medium-term potential despite the tough current context.”

He confirmed the company guidance for full-year profit growth of between 1% and 3%.