Pernod Ricard see ‘soft start’ to the year


Pernod Ricard have released their Q1 FY24 Sales and Results showing a ‘soft start to the year’.

Sales for Q1 FY24 totalled €3,042m, an organic decline of -2% and -8% reported, with an overall unfavorable Forex impact which was partly offset by Group structure.

The decline was notable in the USA, which the company says reflects a high comparison basis, and in China, also the result of high comparatives with soft consumer demand.

Meanwhile the group report a “very dynamic performance in the rest of Asia, modest growth in India, resilience in Europe, and stability in Travel Retail, with a strong price/mix effect +7%, benefiting from last year’s price increases across brands and markets.”

The UK market has been stable and has benefitted from a strong share performance in the On-trade.

Alexandre Ricard, Chairman and Chief Executive Officer, said, “As expected we experienced a soft start to the year, yet I am encouraged we have largely offset declines in US and China this quarter, thanks to our good performance in other markets.

“Our strategy over many years has been to build a diversified portfolio and broad geographic footprint across mature and emerging markets. This strategy provides us with the resilience to weather challenging times enabling a consistently solid performance.

“In the months to come I look forward to sharing with you exciting brand activations and innovations across our full portfolio. I am confident that we can deliver broad-based and diversified organic sales growth in FY24”.

Picture: Alexandre Ricard, Chairman and Chief Executive Officer


Category: News
Tags: Alexandre Ricard, Pernod Ricard, Sales and Results