Pernod Ricard Notes Tougher Global Climate, But U.S. Sales Remain On Rise

Pernod Ricard posted net sales up 4% organically to €6.7 billion ($8.8b) in the nine months through March, representing the first three quarters of its fiscal year, with the U.S. remaining strong amidst slower growth in many global markets. Pernod’s U.S. business saw net sales rise 7% organically over the nine month period, as Jameson (+23%) continued to drive growth, Malibu (+6%) benefited from recent innovations like Malibu Red, Perrier- Jouët (+7) enjoyed a strong performance from its upscale Belle Epoque offering and The Glenlivet (+15%) showed robust gains in both volume and price/mix. Absolut, up 1.6%, also stayed in positive territory.

The solid results in the U.S. helped Pernod offset a tougher economic climate in much of the world. Its Asian region slowed to 8% organic growth, as China’s Scotch market cooled—possibly affected by a crackdown on government entertaining—and Australian sales endured a slight decline. In Latin America, another key emerging market, Brazil, also saw a slowdown. Pernod’s Eastern Europe business, however, enjoyed sustained growth of 11%, while Western Europe was down 3% for the nine months but improved slightly to a flat performance in the third quarter.

Tagged : Pernod Ricard, spirits, wine

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