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Pernod Ricard’s Sales Up 18% Through Three Quarters

April 28, 2022

Pernod Ricard saw sales grow 18% to €8.4 billion ($8.8b) in the nine months through March, representing the first three quarters of its fiscal year. The company was boosted by 13% sales growth in the U.S., as well as double-digit contributions from China, India, Europe, and Latin America.

Pernod said its very strong gains in the U.S. were somewhat enhanced by shipment phasing, which has added about three percentage points of growth over the first nine months and is expected to reverse in the fourth quarter. Amid broad-based price increases that took effect in February, Pernod’s key U.S. brands—including Jameson, Malibu, Kahlua, Jefferson’s, Martell, and the agave portfolio—continued to show very strong underlying growth according to the company, which added that recent innovation Jameson Orange is off to a good start.

After the robust performance, Pernod warned that the balance of the fiscal year ending in June could see softer conditions. “The global environment remains volatile with an increasingly challenging and inflationary context,” noted chairman and CEO Alexandre Ricard. “We expect a softer Q4 impacted by Covid disruptions in China, phasing normalization in the U.S. and conflict in Ukraine.” Full-year profit from recurring operations is still expected to be up a buoyant 17% on an organic basis.

Pernod Ricard—Key Brands in the U.S.
(thousands of 9-liter case depletions)
Brand Origin/Type 2020 2021 Percent
Change1
Spirits
Jameson Irish Whiskey 3,564 4,059 13.9%
Absolut2 Imported Vodka 3,129 3,194 2.1%
Malibu2 Imported Rum 2,715 2,979 9.7%
Kahlua Liqueur 914 938 2.7%
The Glenlivet Single Malt Scotch 468 527 12.5%
Beefeater Imported Gin 429 429 -0.2%
Olmeca Altos Tequila 359 339 -5.6%
Absolut Cans Pre-mixed Cocktail 147 297 102.9%
Chivas Regal Blended Scotch 255 257 0.7%
Martell Cognac 173 230 32.4%
Total Leading Spirits4 12,153 13,248 9.0%
Wine
Mumm Napa California 375 410 9.2%
Campo Viejo3 Spain 373 401 7.5%
Jacob’s Creek Australia 397 361 -9.0%
Kenwood California 235 225 -4.1%
Total Leading Wine 1,380 1,397 1.2%
Based on unrounded data.
Includes flavors; excludes pre-mixed cocktails
Includes still wine and Cava.
4 Addition of columns may not agree due to rounding
Source: IMPACT DATABANK © 2022
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