Pernod profits from emerging markets
Pernod Ricard increased its consolidated net sales for the first quarter by 6.9%, on the back of strong growth in the emerging markets. China contributed significantly to this performance, driving net sales organic growth of 30%. This was largely due to the success of Martell and Ballantine’s in this market. Pernod also recorded “very strong growth” In India due to its Indian whisky portfolio and the success of imported whisky brands.
Overall net sales were down 3.1% in the Americas, where Martell, Mumm, Kahlua and Beefeater sales declined.
Europe, however, acted as a catalyst for growth, generating 10.9% in sales growth.
The company’s sprit business grew by 13.4%, largely due to its strategic focus on luxury brands, which were up 23%. Of the 15 chosen brands, Martell led the charge, recording organic value growth of 39%.
But Pernod’s wine business only grew by 3.3% organically, largely due to strong price increases in Australia and New Zealand.
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Fionnuala Synnott, 21/11/07
