Pernod Ricard 1Q Sales Rise on International Brands, Confirms Profit Target
19 Ottobre 2017 - 9:05AM
Dow Jones News
By Marc Navarro Gonzalez
Pernod Ricard SA (RI.FR) said Thursday that its first-quarter
sales rose 2.0%, and confirmed its profit target.
Net sales at the French spirits group, the owner of brands such
as Mumm champagne and Chivas Regal whisky, were 2.29 billion euros
($2.69 billion) for the three months ended Sept. 30, up from
EUR2.25 billion in the year-earlier period. The figure was slightly
above analysts consensus of EUR2.25 billion, according to FactSet
estimates.
Stripping the effects of acquisitions, disposals and currency
swings, sales in the quarter rose 5.7%, Pernod Ricard said. The
company confirmed its guidance for fiscal year 2018 of organic
growth in profit from recurring operations of between 3% and 5%.
The company's fiscal year ends June 30.
Pernod Ricard's sales increase was primarily led by its
international brands line, which grew 8% in the period and includes
names like Absolut Vodka, Jameson, Ballantine's and Malibu. The
company said its wines line had a strong quarter, also posting 8%
growth.
"We have had a very good start to the year, with our growth
accelerating and diversifying in terms of both markets and brands,"
said Chief Executive Officer Alexandre Ricard.
Sales were negatively affected by weaker currencies in the
Americas and Asia, the company said.
Write to Marc Navarro Gonzalez at
marc.navarrogonzalez@dowjones.com
(END) Dow Jones Newswires
October 19, 2017 02:50 ET (06:50 GMT)
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