UK in ‘good growth’ for Pernod Ricard

By Michelle Perrett

Published: 21 October, 2021

Pernod Ricard has revealed it has seen a very ‘dynamic start’ in all regions for the first quarter of FY22, with robust demand and strong shipments ahead of the festive season.

Sales for the first quarter of FY22 globally totalled €2,718 million, with an organic growth of +20%.

The company said organic sales in Europe were also positive, up 22%, with the UK described as being in “good growth” boosted by Jameson, Absolute and Havana Club.

Alexandre Ricard, chairman and CEO, said the off-trade had remained resilient since reopening.

Last month the company revealed that there had been a “dynamic rebound” of sales in Europe following a tough 2020, with the UK, Germany and Eastern Europe offsetting declines in Spain, Ireland and Travel Retail.

In its latest statement, the producer of Campo Viejo and Absolut, said travel retail was still very subdued.

On a category basis, organic sales for the company’s Strategic International Brands were up 24%, with broad-based growth, in particular for Martell, Jameson, Ballantine’s, Chivas Regal and Absolut.

Within its Strategic Local Brands, sales were up 15%, driven by strong double-digit growth of Seagram’s Indian whiskies while in Specialty Brands, there was a sales uplift of +21%, thanks in particular to Malfy, Avion, Del Maguey, Aberlour, Monkey 47, US whiskeys and Lillet.

However, wine sales were down by 7% (versus +9% in Q1 FY21) due in particular to New Zealand supply constraints.

“We have had a very dynamic start to the year, as expected, with strong demand in most markets. The off-trade remains resilient and I am particularly pleased to note the continued recovery of the on-trade,” said Ricard.

“We expect good sales growth to continue through FY22, albeit moderating vs. Q1. We will continue to implement our strategy, notably accelerating our digital transformation and reinvesting to seize present and future growth opportunities.”

Last month, the company finalised an agreement to purchase The Whisky Exchange, a leading UK retailer of wines and spirits.

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