Pernod Ricard sees 1.7% organic growth for first nine months of FY21

Pernod Ricard’s global sales have seen a 1.7% organic growth for the first nine months of FY21 which totalled €6,941m.

Pernod CEO Alexandre Ricard hailed the company’s Q3 results for FY21 which saw India return to double digit growth while China saw a sales increase of 34% for the first nine months.

“Our Q3 was excellent, marking a return to organic Sales growth for 9M FY21,” said Ricard. “This confirms the strength of our business, with strong dynamism of our domestic Must-win markets and good resilience throughout.

“In a still uncertain and volatile global context, with the current information available on the pandemic, we will continue to implement our strategy while actively managing resources, in particular strongly reinvesting where efficient.

“We expect our sales to accelerate in Q4 and accordingly are providing guidance of an organic growth in Profit from Recurring Operations for full-year FY21 of c. +10%.”

Results by category :

  • Strategic international brands +1% driven by Martell, Malibu, Jameson and The Glenlivet.
  • Absolut and blended Scotch still in decline, impacted by travel retail exposure 
  • Strategic local brands now stable, thanks to double-digit growth of Kahlua, Passport and Ramazzotti 
  • Specialty brands +22%, driven by Lillet, Malfy and Aberlour in Western Europe, and Tequila and American whiskey in US 
  • Strategic wines +2% thanks to off-trade dynamism in UK and Canada. 
  • Reported 9m sales declined -3.7% with an unfavourable foreign exchange impact linked mainly to Euro appreciation vs USD and emerging market currencies. 
  • Sales for the third quarter of FY21 totalled €1,955m, with an organic growth of +19.1% and reported growth of +12.6%. 
  • An interim dividend of €1.33 per share will be detached on 7 July 2021 and paid on 9 July 2021. The final dividend will be subject to the AGM decision on 10 November 2021.