Pernod Ricard finds growth in emerging markets
Pernod Ricard has announced that growth in Q3 was driven by emerging markets and the US.
The French drinks giant said China (+11%), India (+17%) and Russia (+19%) remained the main growth drivers for the first nine months of financial year 2012/2013.
Cognac brand Martell, up 18%, was key to growth in China, along with new entrants Absolut and Jacob’s Creek. But the company said Scotch sales in Korea and Thailand “encountered continued weakness” and also slowed down in China.
The company said that while there was “renewed growth” in the UK and Ireland, southern Europe remained challenging. Meanwhile, Germany grew at double-digit rate.
In Europe (excluding France) net sales of €1.7 million were described by the company as “stable organic development”.
Overall, Pernod Ricard’s consolidated net sales (excluding taxes and duties) totalled €6.7 million for the first nine months of the 2012/13 financial year (from 1 July, 2012, to 31 March, 2013), compared with €6.3 million in the same period of the previous year – an increase of 5%.
Chief executive officer of Pernod Ricard, Pierre Pringuet, said: “Pernod Ricard’s business demonstrated good resilience in, as announced at the beginning of the year, a less favourable economic environment. Our growth is still based on the same drivers: our policy of premiumisation and innovation, the strategic brands and strong presence in emerging markets and the United States.
“Confident in the strength of this model, we confirm our guidance of organic growth in profit from recurring operations of close to +6% for the full financial year 2012/13.”