Pernod Ricard 1st Half Sales, Profit Fall
11 Febbraio 2021 - 8:06AM
Dow Jones News
By Joshua Kirby
Pernod Ricard SA's sales and earnings dropped in the first half
of its fiscal year as travel and on trade continued to be squeezed,
though there was sequential improvement in the second quarter.
Sales at the French drinks group came to 4.99 billion euros
($6.05 billion), down 3.9% organically from EUR5.45 billion in the
first half of fiscal 2020. Net profit came to EUR966 million, down
6% on year on a reported basis.
Sales in the second quarter were down 2.4% organically at
EUR2.75 billion, a smaller drop than in the first quarter. Analysts
had expected quarterly sales of EUR2.65 billion, according to a
consensus of four analyst estimates taken from FactSet.
The impact of the coronavirus affected travel retail and
on-trade sales in most regions, Pernod said. This was offset by
good growth in the Americas, especially the U.S., and in the
specialty brands segments, which grew 22% in the period.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
February 11, 2021 01:51 ET (06:51 GMT)
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