Pernod Ricard Eyes Mid-Term Revenue Growth Backed by Data
08 Giugno 2022 - 8:07AM
Dow Jones News
By Joshua Kirby
Pernod Ricard SA on Wednesday set out its targets for the coming
years, aiming for steady revenue growth backed by consistent
promotional spend and the use of data.
The French distiller is targeting annual organic top-line growth
of 4%-7%, and hopes to approach the upper end of the range, it said
ahead of a capital-markets event Wednesday. Pricing will be a key
part of this growth, boosted by the use of the company's
proprietary predictive digital tools, it said.
Last fiscal year, Pernod recorded 9.7% sales growth to 8.82
billion euros ($9.44 billion), though this was against a soft base
following a fall in revenue the previous year amid the worst
effects of the global pandemic.
Pernod Ricard will meanwhile work to improve operational
efficiency ahead, with disciplined expansion in structure costs
below the level of top-line growth, the company said. Advertising
and promotional spend will be kept at a consistent rate of around
16% of sales.
The planned top-line growth, if met, should entail rising
operating leverage at around 50-60 basis points a year, the maker
of Absolut vodka and Jameson whiskey said.
The goals are part of Pernod Ricard's ambition to become a
"conviviality platform" centered around the use of data, the
company said. "For Pernod Ricard, the end goal is to spread
conviviality by leveraging data," Chief Executive Alexandre Ricard
said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
June 08, 2022 01:52 ET (05:52 GMT)
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