Pernod Ricard Sees ‘Softer’ Sales Growth For Q3
Spirits producer Pernod Ricard has published its Q3 sales results for the 2016/17 financial year. The figures show +3% organic growth in the quarter, totalling €1,987 million, with strong year-to-date sales of +4% organic growth.
Sales for the first nine months of the financial year totalled €7,047 million, driven by 7% growth in the Americas (5% in the US) and 4% sales growth in Europe. Regulatory changes in India hampered Asian growth (1%) but the group’s ‘strategic international brands’ saw 4% growth, with 11 of the 13 brands increasing sales.
Jameson in particular had ‘strong momentum’, according to the published report, with good growth on Ballantine’s also and improvement on Absolute and Martell.
Speaking on the results, Alexandre Ricard, Chairman and Chief Executive Officer, stated, “We have strong year-to-date Sales growth at +4%. In an uncertain environment, our strategy is consistent and driving results, in particular in terms of diversifying the sources of growth.
“We confirm our FY17 guidance of organic growth in Profit from Recurring Operations of between +2% and +4%3.”
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