Paris-based drinks group Pernod Ricard has reported a "good overall performance" for the first quarter of its fiscal year. Consolidated net sales (excluding taxes and duties) showed a 11 per cent increase, to €2,203 million, or 5 per cent in organic terms.
The company pointed out that comparatives for the first quarter are "difficult" (11 per cent organic net sales growth in 2011/2012) due to the "exceptional performances" achieved in China, India and duty-free sales in the Americas.
Europe (excluding France) showed an organic decline of 1 per cent, with "softness" in Western Europe resulting in a 6 per cent drop. Eastern Europe performed well with sustained growth of 14 per cent, driven by growth in Russia. In Pernod Ricard's domestic market sales showed a decrease of 8 per cent, totalling €149 million.
Growth in Asia slowed to a "more moderate" pace of 11 per cent growth, on an organic basis, coming in at €951 million. China and India underpinned this with 18 per cent growth in each market, and Martell remains the main growth driver in the region.
Organic sales growth in the Americas was 7 per cent, rising to €579 million, with the US presenting double-digit growth.
Pernod Ricard CEO, Pierre Pringuet, said, “We remain confident in our capacity to continue to grow and are setting a target for organic growth in Profit from Recurring Operations close to +6% for the 2012/13 financial year.” (25 Oct)
© 2012 - ESM: European Supermarket Magazine
