Pernod Ricard reports profits up, ahead of analyst forecasts
The French-owned global drinks giant recorded a strong performance - up by 4% - for the first half of its 2017 fiscal year, driven by various sectors including a good performance in the UK.
Sales were driven predominantly by strong sales in the US, the group said, although Europe also saw improvement over this period with a 3% sales increase, driven by “recovery in Russia and continued good performance in the UK and Spain”.
Looking at the company’s key drinks brands, Jameson Irish whisky has been earmarked as one of the global star performers over the period, while Absolut, Martell and Chivas recorded a better half year than the same period the year before.
Alexandre Ricard, Chairman and ceo, said: “Our half-year results are strong, delivering a continued performance improvement. Our strategy remains consistent and is driving results.
“For full year FY 17, in an uncertain environment, we plan to continue improving our business performance year-on-year vs FY 16. We will continue to support priority markets, brands and innovations while focusing on operational excellence. We expect to deliver organic growth in profit from recurring operations in line with the guidance of +2% to +4%.”