Pernod Ricard shows +3.6% sales growth for FY17

Pernod Ricard has recorded a +3.6% organic sales growth for the 2017 financial year and a +22% free cash flow growth.

The global wine and spirits brand released its full year financial report on 31 August 2017, which also revealed that its US sales have increased +7% since last year.

“These results demonstrate that the strategic direction the group adopted two years ago is delivering: growth is accelerating and diversifying through successful activation of our strategy,” said Alexandre Ricard, chairman and CEO.

Pernod Ricard was created in 1975 by the merger of Ricard and Pernod and the group has since undergone sustained development, based on both organic growth and acquisitions.

The company has consolidated sales of €9bn in FY17 and is hoping to grow this figure next year.

Ricard added: “In FY18, we will continue to implement our roadmap, in particular focusing on digital, innovation and operational excellence.

“As a consequence, our guidance for FY18 is organic growth in profit from recurring operations between +3% and +5%.”