Pernod Ricard’s First-Half Sales Rise 17% To $6.8 BillionFebruary 10, 2022
Pernod Ricard posted a buoyant set of results for its fiscal first half ended in December, with sales up 17% to €6 billion ($6.8b) and profit from recurring operations jumping 22% to €2 billion ($2.3b). Both measures were up strongly against pre-pandemic levels as well, increasing 13% and 20% respectively.
Growth was robust across the French drinks giant’s global business, with U.S. sales rising 9% year-on-year and 17% compared with pre-pandemic levels. Pernod credited “a strong on-trade recovery and resilient off-trade” as driving gains for brands including Jameson and Redbreast Irish whiskies and Martell Cognac, as well as its American whiskey portfolio, which includes Jefferson’s, Rabbit Hole, Smooth Ambler, and TX. Jameson unveiled a new orange flavor expression during the first half, while Martell was boosted by a new campaign starring Janelle Monae. The Glenlivet single malt Scotch and the agave portfolio—especially Del Maguey mezcal—also contributed to U.S. growth.
Elsewhere, Pernod’s Europe and Asia-Rest of World regions posted 21% and 16% growth respectively. Looking ahead, the company said it expects growth to moderate some in the second half, with increased investments expected to fuel its momentum. “Despite the ongoing volatile environment, we expect FY22 strong sales growth across regions, with continued on-trade rebound, off-trade resilience and a gradual travel retail recovery,” said chairman and CEO Alexandre Ricard.
|Pernod Ricard USA—Key Brands in the U.S.
(thousands of 9-liter case depletions)
|The Glenlivet||Single Malt Scotch||470||527||12.2%|
|Absolut Cans||Pre-mixed Cocktail||149||319||114.0%|
|Chivas Regal||Blended Scotch||256||258||0.6%|
|Total Leading Spirits||12,337||13,461||9.1%|
|Total Leading Wine4||1,413||1,422||0.6%|
|1 Based on unrounded data.
2 Includes flavors; excludes pre-mixed cocktails
3 Includes still wine and Cava.
4 Addition of columns may not agree due to rounding
Source: IMPACT DATABANK © 2022