Pernod Ricard records 25% profit increase in half-year results
By NewsDesk - Feb 9th 2018, 13:45
Drinks company Pernod Ricard has recorded a 25% net profit increase in its 2018 half-year results, following a reduction in expenses during this period.
Net profits of €1.15 billion ($1.41 billion) represented a 25% year-on-year increase compared to the €914 million ($1.12 billion) figure recorded in the same period last year.
Overall net sales also rose marginally by 0.4% to €5.08 billion ($6.22 billion) from 2017’s € 5.06 billion ($6.19 billion) net sales figure.
Net sales in Europe increased 2% to €1.62 billion ($1.98 billion) from €1.59 billion ($1.95 billion), while net sales in Asia increased 1% from €2.04 billion ($2.50 billion) to €2.07 billion ($2.50 billion).
However, net sales throughout the Americas dropped 2% from last year’s figure of €1.43 billion ($1.75 billion) to €1.40 billion ($1.71 billion).
Despite this, organic sales growth across the company’s range of international brands rose by 5%.
This growth was driven by a 12% rise in sales of Jameson whiskey and a 10% sales rise for Martell cognac globally, and all of Pernod Ricard’s drinks bar Ricard (8% decrease) and Royal Salute (5% decrease) posted an increase in global sales.
Alexandre Ricard, Pernod Ricard chairman, and chief executive officer said: “H1 FY18 was a very good semester, with an acceleration vs. FY 17, in particular in China, India and Global Travel Retail."
For full-year FY18, we will maintain our focus on digital, innovation and operational excellence (including pricing.) We expect sustained and diversified growth to continue across our regions and brands.
“We are therefore increasing our guidance for full-year FY18 organic growth in Profit from Recurring Operations to between +4% and +6%.”
© FoodBev Media Ltd
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