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Pernod Ricard sales grow 11% in Q1

20 October, 2022

Pernod Ricard has released its sales and results for Q1 FY23, with sales totalling €3,308 million and an organic growth of +11%.

China and India saw strong growth, with travel retail rebounding, as the US experienced distributor depletions with shipments impacted by phasing. 

There was continued dynamism in Europe, enhanced by a good tourist season that supported growth in the on-trade. 

Alexandre Ricard, chairman and CEO, said: “Our performance continues to be broad-based with growth across many markets and diversified across our portfolio with all our spirit segments in double digit growth. 

“Within a context which remains challenging and volatile, as for every business, we continue to actively invest to support our unique competitive advantages and fuel our future growth,” Ricard added.

Diversified double-digit growth was seen across all spirits segments, with +12% growth driven by Scotch, Jameson, Absolut, Beefeater and Martell, and +13% driven by the growth of Seagram’s Whiskies.

“We have been very active in portfolio management in the past quarter with Sovereign Brands, Código 1530 and Nocheluna and are excited to work with our new partners to fully develop the global potential of such highly attractive brands,” said Ricard.

“We expect this dynamic growth to continue through FY23, demonstrating the strength of our strategy and the dedication and full engagement of our teams around the world”.

Pernod Ricard’s speciality brands grew +16% driven by Lillet, Malfy, Redbreast and Jefferson’s. Strategic wines saw -8%, a “soft start” notably in the US and the UK, with phasing effects, and dynamism in Canada and India.

Reported Sales growth was +22%, with an overall favourable FX impact, mostly from the US Dollar and Chinese yuan versus the Euro.

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