Pernod Ricard Reports Good Business Resilience
26 Apr 2013 --- In the first nine months of the 2012/13 financial year Pernod Ricard demonstrated good resilience of the business in a more challenging macroeconomic environment, as had been announced at the beginning of the year, and one which remains contrasted.
The premium portfolio remains the key driver of performance with:
- continued sustained value growth(1) of the strategic brands
- very favourable price/mix (+6%(1)) for the Top 14
Growth continues to be driven by emerging markets(2) and the United States:
Growth remained strong in emerging markets (+10%), but slower compared to the prior financial year, particularly in Q3 2012/13. China (+11%), India (+17%) and Russia (+19%) remained the main growth drivers for the first nine months of financial year 2012/13.
Consolidated net sales reached €6,650 million for the first nine months of the 2012/13 financial year. Reported growth was +5%, equating to +4% organic growth with:
On this occasion Chief Executive Officer of Pernod Ricard Pierre Pringuet commented: “Pernod Ricard’s business demonstrated good resilience in, as announced at the beginning of the year, a less favourable economic environment. Our growth is still based on the same drivers: our policy of premiumisation and innovation, the strategic brands and strong presence in emerging markets and the United States.” He added: “Confident in the strength of this model, we confirm our guidance of organic growth in profit from recurring operations of close to +6% for the full financial year 2012/13.”
Pernod Ricard’s consolidated net sales (excluding taxes and duties) totalled € 6,650 million for the first nine months of the 2012/13 financial year (from 1 July 2012 to 31 March 2013), compared to € 6,315 million in the same period of the previous year. This +5% increase equates to:
Asia/Rest of the World reported sustained growth, albeit at a more moderate pace, of +12% to € 2,762 million (organic growth of +8%). Martell posted strong growth (+18%(1)), bolstered by price/mix that remains very significant, and shipments to wholesalers in China that exceeded depletions. The slowdown in the third quarter was exacerbated by significant shipments in the half-year.
