European growth boosts flat Pernod Ricard figures

28 August, 2014

Pernod Ricard has reported flat global sales in a year when it saw a dramatic collapse in China where revenue fell by 23%.

Europe, which has been a troublesome region for global spirits players in recent times, was among its best-performing regions performing region with sales up by 2% in the year to June 30.

Chief executive officer Pierre Pringuet said the global picture had proved “more difficult than anticipated”.

Deputy chief executive officer Alexandre Ricard added: “In this context, which will remain challenging, we anticipate a gradual improvement in our sales growth, and we will increase the investment behind our brands and priority innovations in order to sustain long-term growth.”

Among the group’s top 14 strategic brands Perrier-Jouet and Glenlivet did best with sales ahead by 7% and 6% respectively.

Ballantine’s fell 5% and Martell 4%, the latter impacted by the situation in China, where premium spirits sales have been hit by a government crackdown on extravagant spending by officials.




Bookmark this


Site Search

COMMENT

Looking back to look forward

Wine is a liquid time capsule. Drinking older vintages not only recalls the weather conditions and winemaking styles of the past, it encourages us to reflect upon our own histories. Such reminiscence often inclines towards romanticised nostalgia. Especially after the second bottle. But looking back is a great way of learning about the future.

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter