Pernod Ricard reported a sales growth that beat estimates as demand for its Jameson Irish whiskey surged in the United States, according to Irishtimes.ie
The world’s second-largest distiller, reported a 4% sales growth in the first quarter of the fiscal year, which is attributed to the demand for its Jameson Irish Whiskey in the United States. This far exceeds the 2.7% expected by the Paris-based company.
In the US, Pernod Ricard's biggest market, Jameson is driving growth in the Irish whiskey category, which has expanded alongside a bourbon revival. That’s compensating for weakness in China, where demand for expensive cognacs and Scotch whiskies has waned due to a government crackdown on graft and extravagant spending.
“First-quarter revenue confirms that after several years of hiatus, growth is starting to renew,” Edward Mundy, an analyst at Jefferies, (Investment banking company) said in a note.
Jameson is a blended Irish whiskey produced by the Irish Distillers subsidiary of Pernod Ricard. The United States is the largest market for Jameson.
© 2016 - Checkout Magazine by Donna Ahern