26 April 2012 --- French drinks group Pernod Ricard has posted stronger-than-expected quarterly sales.

Sales reached 1.7 billion euros ($2.24 billion) in the three months to the end of-March, a like-for-like rise of 3 percent.

For the third quarter, consolidated sales grew 5% compared to the 3rd quarter of 2010/11 to €1,701 million, including organic growth of +3%.

On this occasion, Pierre Pringuet, Chief Executive Officer of Pernod Ricard, declared: “We are very pleased with the Group’s performance, on the back of which we can confirm our targets for the current financial year. We are delighted to have concluded a new syndicated credit facility with extremely attractive terms, thus completing the Group’s refinancing.

“The very favourable underlying trends of the 1st half of the year continued into the 3rd quarter, with buoyant sustained growth of strategic brands and an increase in relative significance of the company’s Premium portfolio accounting for 73% of sales to 31 March 2012.”

There was growth in all regions for the first nine months Asia/Rest of the World remained buoyant, with sales growth of +15% to €2,474 million and an organic growth of +16%. Martell remained the main growth driver (+26%(1)) followed by Top 14 Scotch whiskies, Indian whiskies, Absolut Vodka, champagne and wine (primarily Jacob’s Creek).

The company noted that an earlier Chinese New Year, had a €20 million negative impact on 3rd quarter sales.