Strong spirit sales help to push Pernod Ricard growth
A good performance in spirit sales, particularly at the top end, has helped Pernod Ricard achieve a 10% rise in organic growth during the first nine months of the 2006/7 financial year.
The group's consolidated sales (excluding duties and taxes) amounted to 4.8 billion (3.25bn), 7.2% up on the previous period, with the European region achieving organic growth of 8.7%. Pernod's wine brands, which include Jacob's Creek and Montana, grew by 6.8%.
The super- and ultra-premium spirits were the real stars, averaging growth of 32%: Ballantine's 30 Year Old rose by 57%; Martell Cordon Bleu was up 43%; Chivas Regal 18 Year Old increased by 35%; and Royal Salute rose went up by 20%.
Pernod Ricard chairman and CEO Patrick Ricard said: "These very good results are in line with our expectations and indicate favourable prospects for the second half year. We therefore confirm guidance of around 20% growth in net profit from ordinary activities (Group Share), excluding foreign exchange impact, for the full year."
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