FDBusiness.com

Continued Recovery at Pernod Ricard as Full Year Targets Raised

 Breaking News
  • Sweets and Snacks New Product Development Thrives on Adventure and Bite-size Trends With one in four global consumers increasing their consumption of confectionery over the past year (Innova Market Insights Consumer Survey, 2018) because “there is more variety & novelty available,” the food industry is responding. New data from Innova Market Insights finds a 15 percent average annual growth in global confectionery launches with a “discovery” claim [...]...
  • 80,000 Tonnes of Skimmed Milk Powder Sold in Biggest Tender A total of 80,424.05 tonnes of the skimmed milk powder bought into public stock by the European Commission since 2015 were sold in the latest tender sale, bringing the remaining stock to around 22,000 tonnes out of the original 380,000 tonnes, stockpiled since the crisis that hit the dairy sector in 2015. In effect, almost [...]...
  • Müller Rolls Out ‘Stealth’ Milk Caps Müller, Britain’s leading producer of branded and private label fresh milk, cream, butter and ingredients, is rolling out a new lightweight recyclable milk cap, which uses 13% less plastic material. The innovative solution allows the business to remove 300 tonnes of plastic every year, the equivalent weight of 231 million ‘stealth’ milk caps. The dairy company has [...]...
  • Greene King Announces New Chief Executive The board of Greene King has announced that Nick Mackenzie will join the board on 1st May 2019 as chief executive in succession to Rooney Anand. Nick Mackenzie will be joining from Merlin Entertainments where, as a member of the executive committee, he is responsible for the Midway portfolio of attractions, which comprises over 100 [...]...
  • Irish Grocery Market Hits Festive Record as Retailers Cash in on Christmas The Irish grocery market grew by an impressive 3.0% over the 12 weeks to 30 December, ensuring a record festive period for retailers. The latest Kantar Worldpanel data shows value sales reached €995 million in the month of December – the highest monthly total ever recorded in the Irish grocery market. This was driven by [...]...

Continued Recovery at Pernod Ricard as Full Year Targets Raised

Continued Recovery at Pernod Ricard as Full Year Targets Raised
February 18
14:13 2011

Benefiting from an improvement in the global economic environment and favourable currency factors, Pernod Ricard has achieved strong sales and profit growth in the first half ended December 31st last. Net sales increased by 13% to Eur4.28b – up 7% organically – and group share of net profit from recurring operations rose by12% to Eur726m.

Pernod Ricard increased advertising and promotion spend by 11% organically to Eur765m; raising it from 17% to 17.9% of sales. The French and international drinks giant improved its operating margin (profit from recurring operations/sales) by 30bps to 28.3% and also significantly reduced debt by Eur864m during the period.

Pierre Pringuet, chief executive of Pernod Ricard:

The group’s 14 strategic spirits and champagne brands grew 8% in volume and 13% organically in value, reflecting a very favourable price/mix effect. These 14 strategic brands represented 59% of group sales in the first half of 2010/11, compared to 55% in the first half of the previous year: Indeed, eight of 14 brands posted double-digit organic sales growth: Martell (+32%), Royal Salute (+31%), Perrier-Jouët (+21%), Jameson (+18%), Ballantine’s (+13%), The Glenlivet (+12%), Chivas Regal (+11%) and Havana Club (+10%).

Pernod Ricards sales in Europe (excluding France) showed a marked improvement in the first half, growing 2% organically against a 5% decline in 2009/10. This came from strong growth in Central and Eastern Europe and moderate growth in Western Europe.

According to Pierre Pringuet, chief executive of Pernod Ricard: “This strong performance enables us to revise upwards our guidance for organic growth in profit from recurring operations to a level close to 7% over the full 2010/11 financial year. We will pursue our policy of sustained investments in our strategic brands and markets.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements