Pernod Ricard 1st Half Net Profit Rises on Lower Expenses, Inventory Sales
08 Febbraio 2018 - 08:25AM
Dow Jones News
By Euan Conley
Pernod Ricard SA (RI.FR) on Thursday posted a 25% rise in net
profit for the first half of its fiscal year, helped partly by a
reduction in financial expenses and the one-off sale of bulk Scotch
inventory.
Net profit for the half-year ending Dec. 31 rose to 1.15 billion
euros ($1.4 billion) from EUR914 million a year earlier, the maker
of Absolut vodka, Mumm champagne and Jameson whiskey said.
Sales in the first half increased by only 0.4% to EUR5.1 billion
due to negative foreign currency effects, Pernod Ricard said.
Second-quarter sales declined by 0.8% to EUR2.8 billion, which the
company said was consistent with underlying trends from the first
quarter.
"We expect sustained and diversified growth to continue across
our regions and brands," said Pernod Chairman and Chief Executive
Alexandre Ricard.
The French spirits group said it was raising its fiscal 2018
guidance for organic growth in profit from recurring operations to
between 4% and 6%.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
February 08, 2018 02:10 ET (07:10 GMT)
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