Pernod Ricard’s Sales Up 18% Through Three QuartersApril 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)
|The Glenlivet||Single Malt Scotch||468||527||12.5%|
|Absolut Cans||Pre-mixed Cocktail||147||297||102.9%|
|Chivas Regal||Blended Scotch||255||257||0.7%|
|Total Leading Spirits4||12,153||13,248||9.0%|
|Total Leading Wine||1,380||1,397||1.2%|
|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