Pernod Ricard reports "very strong sales" for FY18
Pernod Ricard has reported “very strong sales” for its full year results, with growth coming from “a wide spectrum of markets”.
Sales for its full year FY18 grew by 6% compared to 3.6% the year before, with the strongest growth recorded from its Asia portfolio, driven by China and India.
In Europe the group reported “modest growth” of 2%, with good momentum in Eastern Europe, Germany and UK, but growth was held back by difficulties in France and Spain.
In terms of brands the group saw a “very strong performance” from Martell (up 14%) and Jameson (up 14%), while “improving trends” were recorded for its overall Scotch portfolio, while Chivas returned to growth, up 5%.
Alexandre Ricard, chairman and chief executive office, said: “FY18 was a very strong year. Consistent strategic implementation has enabled us to deliver a significant improvement in business performance while investing for the future. Our sales have accelerated and diversified, and our margins improved.
“In FY19, in a still uncertain geopolitical and monetary environment, we will continue consistently implementing our strategy. Our guidance for FY19 is organic growth in profit from recurring operations between +5% and +7%.”