Brexit Vote To Boost Pernod Ricard Profit Margin By €30 Million
According to Gilles Bogaert, Pernod Ricard’s managing director of finance and operations, the drinks multinational will add €30 million to its profit margin for its current financial year as a direct effect of the Brexit referendum.
He described the vote itself, as well as the strengthening of the euro against the pound, as “moderately positive”, according to TheDrinksBusiness.com. That “people the world over will continue to drink scotch” gives Pernod confidence in its own longterm capacity to remain competitive in the scotch market.
Bogaert, speaking in London, expressed the view that World Trade Organisation agreements will safeguard scotch exportation to the 27 remaining EU member states after the UK–EU severance details have been finalised.
Pernod’s scotch whisky division is Chivas Bros, the second-biggest scotch maker after Diageo.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.