|Record sales of premium brands lift Pernod|
|Written by Laura Heywood|
|Thursday, 01 September 2011 11:07|
Pernod Ricard has reported a strong performance in its annual results thanks in part to record sales of its top 14 brands.
The company, whose brands include Absolut vodka, Jameson whisky, Havana Club rum and Mumm Champagne, posted a 8% uplift in global sales to €7.64 billion.
Net profit for the year to June 1 was €1.44 billion, up 10% on the previous year.
Sales were stable in Europe, excluding France, compared to a 5% decline in the previous year. In Western Europe there was a 2% drop which the company attributed to a 33% decline in Greece and a 5% fall in Spain.
Globally Pernod's top 14 brands grew 6% in volume and 10% in value, reaching "an all-time record high during the financial year", according to the company.
Five of those brands achieved double-digit growth, with Royal Salute up 27%, Martell up 22%, Jameson up 20%, Perrier-Jouët up 17% and The Glenlivet up 14%.
Advertising and promotional spend increased by 11% to €1.44 billion, or 19% of total revenue. This "substantial, targeted investment" enabled Pernod to implement its strategy of innovation and premiumisation, the company said.
Chief executive Pierre Pringuet added: "We will continue to grow, by capitalising on the strength of our portfolio of brands, the quality of our distribution network and the powerful leverage of emerging markets."