Jameson Posts 20% Growth In H1, 2017
Pernod Ricard has published its financial results for the half year ending 8 February, 2017. The group posted solid sales and profits, with Jameson in particular seeing strong sales growth of 20% and volume growth of 16%.
Pernod Ricard reported sales of €5,061 million and profit from its recurring operations of €1,500 million, both growing organically by 4%. Net profit for the group stands at €914 million and its free cash flow grew by 34% from H1 2016 to €658 million.
The group stated that this successful half year aligns with its 2020 roadmap, with new organisations getting up to speed in USA, Global Travel Retail and China. European performance has also been strong, with a 6% growth of sales in France, 7% in the UK and 15% in Russia.
Alongside Jameson’s strong performance, other brands that have performed well are Martell, Ballantine’s, Perrier Jouët, Beefeater and Malibu.
As part of the announcement, Alexandre Ricard, Chairman and Chief Executive Officer, declared, “Our half-year results are strong, delivering a continued performance improvement. Our strategy remains consistent and is driving results. For full year FY 17, in an uncertain environment, we plan to continue improving our business performance year-on-year vs. FY 16. We will continue to support priority markets, brands and innovations while focusing on operational excellence. We expect to deliver organic growth in Profit from Recurring Operations in line with the guidance of +2% to +4%.”
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