Pernod Ricard Reports 3% Dip in Sales in H1

Their first half Fiscal Year 2009/10 sales allow the company to confirm guidance of between +1% to +3% organic growth for profit from recurring operations for the full year 2009/10.

15 Jan 2010 --- Pernod Ricard has reported that sales for the first half of Fiscal Year 2009/10 (ending 31/12/2009) have been in line with expectations, with a circa 3% Net Sales organic decline. This resulted from an improved second quarter with a 2% decline, after a 4% decline over the first quarter, on a still challenging comparison basis.

Product mix was positive with in particular a better performance by spirits compared to wines and champagne.

Asia showed a good performance over the first semester, with confirmed dynamism in China and India and first signs of recovery in South Korea and in Duty Free markets. Business remained difficult in Europe, with however a good resistance in France and an improving trend in Eastern Europe. In the Americas, sales in the US have not yet benefited from the economic recovery while sales remained globally well oriented in the other countries of the region.

Their first half Fiscal Year 2009/10 sales allow the company to confirm guidance of between +1% to +3% organic growth for profit from recurring operations for the full year 2009/10.