Drinks giant Pernod Ricard has posted reported sales growth of 2% for the first half of the year (+4% organic growth), recording €5.06 billion for the period.
The group, which was impacted by an ‘unfavourable FX impact’ during the period, posted 4% organic profit growth from recurring operations.
Leading the charge for the company is the Jameson whiskey brand, which posted ‘strong growth’ worldwide (+20% organic sales growth), while Absolut, Martell and Chivas all saw improvements in the fist half of the year.
Innovation also contributed approximately 1% to overall growth, driven by the Jameson Caskmates, Lillet and Olmeca Altos brands.
“Our half-year results are strong, delivering a continued performance improvement,” said Pernod Ricard chief executive Alexandre Ricard. “Our strategy remains consistent and is driving results.”
Looking ahead to the “uncertain environment” in 2017, Ricard added that the company plans “to continue improving our business performance year on year versus FY16. We will continue to support priority markets, brands and innovations while focusing on operational excellence. We expect to deliver organic growth in profit from recurring operations in line with the guidance of +2% to +4%.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.
