International drinks company Pernod Ricard posted strong sales of 9.3% for the three months to the end of March, driven to a large part by its Jameson Irish Whiskey brand.
The company saw dynamic growth in its Asian and American business with a growth of 18% and 6%, respectively.
Meanwhile its European activities saw a modest decline of 1% due to continued difficulties in Spain and France, along with unfavourable shipment phasing in Russia and adverse basis of comparison in the UK, according to the company.
Sales for the first nine months of FY18 grew by 6.3% to €7.06 billion, driven by emerging markets (+13%).
This period also saw strong growth in Pernod Ricard’s international brands, up 7%, which include Jameson Irish Whiskey, Martell French cognac and a return to growth of its Chivas Scotch Whisky. This marks a successful diversification growth strategy for the company.
Jameson Irish Whiskey recently ranked number 11 on Impact’s ‘Top 100 Premium Spirits’ brands worldwide – a jump of four places when compared to the previous year.
Whiskey also drove the growth of its local brands, particularly Seagram’s Whiskies and the double-digit performance f Olmeca/Altos.
Unfavourable effects over the period linked mainly to the strengthening of the Euro versus the US Dollar let to a low reported growth of 0.2%.
“We have very strong year-to-date sales growth at +6.3%,” said Alexandre Ricard, chairman and CEO, Pernod Ricard. “Our strategy is consistent and driving results, in particular in terms of diversifying the sources of growth.”
“We confirm our FY18 guidance given to the market on 9 February 2018 at the top-end of the range, with organic growth in profit from recurring operations of c. +6%.”
© 2018 Checkout – your source for the latest Irish retail news. Article by Kevin Duggan. Click subscribe to sign up for the Checkout print edition.