Pernod Ricard sales dip 1% in Europe

23 October, 2014

Pringuet: "resilience in a difficult context"

Pernod Ricard posted a 1% sales dip in Europe during the first quarter of the 2014/15 financial year.

The spirits giant grew sales 2% overall on the previous year, but this was fuelled by growth in the Americas and Asia.

Its wine arm saw sales decline by 3%, but it said Campo Viejo and Brancott Estate continue to grow.

Chief executive Pierre Pringuet said: “Pernod Ricard’s return to growth in the first quarter illustrates the Group’s resilience in a difficult context. We are confident in the strength of our portfolio and distribution network. The roll-out of project Allegro will contribute to strengthening our operational efficiency.”

Alexandre Ricard, deputy chief executive and chief operating officer, added: “For the full financial year we anticipate a gradual improvement in sales, in an environment that will remain difficult.

“We plan to increase investment behind our priority brands and innovations. As a result, our 2014/15 guidance is organic growth in profit from recurring operations between 1% and 3%.”




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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.

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