Pernod Ricard reveals ‘very strong’ sales in half-year results
Global drinks giant Pernod Ricard has announced “very strong” sales growth in its first-half financial year 2023 results, surpassing analyst expectations with an organic rise of 12%.
Pernod Ricard, which counts Jameson, Absolut vodka, Chivas Regal and Mumm among its brand portfolio, said in a press release that its results had exceeded analyst expectations of an 8.2% increase in profits with an overall 12% organic rise aided by price increases in key markets.
Total sales at Pernod Ricard for H1 FY2023 were €7.116 billion. Growth in its Strategic International Brands portfolio was driven by Scotch whisky brands, Jameson and Absolut.
Pernod Ricard’s growth was boosted by a 5% increase in its biggest market, the United States, while sales growth in Europe hit 6%.
The drinks giant remains optimistic about its full-year results, CEO Alexandre Ricard said.
“Our first half performance was very strong, marked by broad-based and diversified growth across all regions and categories,” commented chairman and CEO Alexandre Ricard.
“In addition, particularly strong pricing dynamic illustrates the attractiveness of our portfolio of premium brands and enabled us to sustain margins in an inflationary context.
“We will continue to invest behind our brands, our group-wide transformation and S&R strategy, deliver operational efficiencies and prepare for exciting future growth opportunities.
“I expect this dynamic growth to continue through FY23 albeit in a normalizing environment, demonstrating the strength of our strategy and the agility, dedication and exceptional engagement of our teams around the world.”
Will Pernod Ricard’s results eclipse the company’s legal issues?