Pernod Ricard issues more upbeat guidance for 2020
Pernod Ricard is predicting a softer impact on its business as a result of the ongoing Covid-19 crisis, according to its latest guidance for its 2020 results.
The drinks giant is now expecting a fall in organic profits of 15%, against the 20% drop it foresaw in the guidance it issued on 24 March.
The shift has been put down to greater resilience in off-trade channels, in the US and Western European markets in particular.
The off-trade represents around 75% of sales for the group and it had predicted sales to fall back by 10% for the three months to the end of June.
Other predictions made in its 24 March statement have proved broadly correct. These include an 80% drop in travel retail sales and the collapse of trade in China.
The group recently demonstrated its support for the on-trade in the UK with the release of a guide to operating in ‘the new normal’.
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