FDBusiness.com

Continued Recovery at Pernod Ricard as Full Year Targets Raised

 Breaking News
  • Tyson Foods Completes Acquisition of Thai and European Businesses from BRF Tyson Foods, one of the world’s largest food companies and a recognized leader in protein, has successfully completed the acquisition of the Thai and European businesses from BRF of Brazil. The purchase includes four production facilities in Thailand, and one each in the Netherlands and the United Kingdom. These businesses build on the US-based company’s [...]...
  • Mondelez International Invests £4.7 Million into Reading Science Centre Mondelez International, home to some of the UK’s best loved brands including Cadbury Dairy Milk, Green & Black’s, OREO, Maynards Bassets, Trebor and Ritz, is investing £4.7 million into its UK food research and development programme. The investment at the company’s Reading Science Centre will support the development of new and improved chocolate, biscuit and [...]...
  • Continuously Cooked Product in Just 60 Seconds Interfood Technology is offering the versatile Power Heater system which can reduce traditional processing and cooking costs for higher value meat products as well as upgrade meat trim. The same system also offers flexible opportunities to enter the vegetarian and/or vegan markets. The Power Heater system is manufactured in Denmark by Source Technology and is available [...]...
  • Raisio to Invest €45 Million in New Healthy Foods Facility Finnish and international food company Raisio is investing €45 million in a production facility developing and manufacturing plant-based added value products. The investment is in response to the strong growth in demand for plant-based food, particularly in the European markets. The project is funded by the company’s strong cash position and cash flow. The investment [...]...
  • Bord Bia Opens Third Office in Asia Bord Bia (Irish Food Board) has opened a new office in Tokyo, Japan, bringing to 14 the number of international offices it has promoting the Irish food and drinks industry overseas. Through its Prioritising Markets – Opportunities for Growth study, Bord Bia has identified Japan as being in the top five priority markets for Irish [...]...

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
  • June 25, 2019BevExpo 2019
  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements