Pernod Ricard Sees Strong 4Q Sales After 3Q Decline
27 Aprile 2023 - 8:23AM
Dow Jones News
By Adria Calatayud
Pernod Ricard SA said Thursday that it expects strong sales in
the fourth quarter of fiscal 2023 after a decline in the third, and
forecast organic growth in full-year profit from recurring
operations.
The French drinks group said it expects organic growth of more
than 10% in profit from recurring operations, aided by some
expansion in its organic operating margin, for the year to
June.
The maker of Absolut vodka and Martell cognac also forecasts
strong fourth-quarter sales helped by a favorable comparison basis,
an expected demand recovery in China and price increases in the
U.S. The company maintained its guidance for
advertising-and-promotional spending at 16% of net sales.
For the third quarter to the end of March, Pernod Ricard said
sales totaled 2.39 billion euros ($2.64 billion), down from EUR2.45
billion in the year-earlier period.
Sales fell 2.2% organically, hurt in part by a strong
year-earlier performance in the U.S.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 27, 2023 02:08 ET (06:08 GMT)
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