Pernod Boosts Guidance, With Conditions Slightly Better Than Expected

Pernod Ricard has upped its guidance for its fiscal year ended in June to a profit decline of approximately 15%, slightly better than the 20% decrease it forecasted in March. The Paris-based drinks giant said it has seen “resilience in the off-trade, especially in the USA and Western Europe.”

Globally, the company noted that a full six-week lockdown of sales and production in India hampered the business, while its earlier assumptions of a slow recovery in China from April onward and a roughly 80% decline in travel retail from February through June proved largely correct.—Daniel Marsteller

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