FDBusiness.com

Pernod Ricard On Track to Meet Financial Targets

 Breaking News
  • Nestlé Inaugurates New Nescafé Dolce Gusto Production in Vietnam Nestlé has inaugurated a new Nescafé Dolce Gusto capsule production line in Dong Nai Province, Vietnam. The site will process an expected 2,500 tons of coffee per year (equivalent to 130 million capsules), using high quality coffee beans from Vietnam. This volume is expected to increase in the coming years. The investment reflects Nestlé’s clear focus on high-growth, [...]...
  • Pink Lemonade Yogurt? Arla Brings Indulgence to New Markets Arla Foods is to expand its successful Finnish brand, Ihana, into new markets with the premium yogurt range being launched in Denmark and the UK. Meaning ‘wonderful’ in Finnish, Ihana was launched through an extensive brand launch in 2016 in Finland with an iconic new design. Indulgence is one of the few areas in growth within [...]...
  • Process Components Announces Kemutec Expansion into Netherlands Process Components has announced the expansion of subsidiary company Kemutec in Europe, with the long-established manufacturing brand opening a new office in the Netherlands. The move forms a key part of its global strategy to extend its global territories, significantly grow its revenues and create new jobs. Kemutec has more than three decades’ worth of heritage in [...]...
  • Packaging Automation Supports the Reduction in Plastic Packaging Waste With the launch of the UK Plastics Pact to address the impact plastic waste is having on the environment, retailers and manufacturers are more conscious of single use and non-recyclable plastics and want to cater for the green consumer. The industry is turning to various kinds of eco-friendly packaging with the aim of reducing plastic [...]...
  • Glanbia Cheese Joint Venture to Build New €130 Million Mozzarella Cheese Facility Glanbia Cheese, the joint venture business between Glanbia plc and Leprino Foods, plans to build a new, world-class mozzarella cheese manufacturing facility in Portlaoise, County Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of €130 million will be invested in [...]...

Pernod Ricard On Track to Meet Financial Targets

Pernod Ricard On Track to Meet Financial Targets
May 05
11:41 2011

Following a solid third quarter, Pernod Ricard has confirmed its targets for the full 2010/11 and 2011/12 financial years. Over the first nine months of the 2010/11 financial year (to 31st March 2011) consolidated sales (excluding tax and duties) increased by 11% to Eur5.90b, compared to the same period in the previous year, and organic growth was 7%, in line with the first half of the financial year. During the nine months period, sales grew by 16% in emerging markets and by 2% in mature markets.

Sales in Europe (excluding France) for the first nine months, were stable on an organic basis at Eur1.63b, but declined 3% on a reported basis following the disposal of certain assets in Spain and Scandinavia. This stability was a marked improvement compared to the 6% organic decline during the same period of the previous year. The situation remained difficult overall in Western Europe (in particular in Spain), but growth was confirmed in Central and Eastern Europe, more specifically due to Russia and Ukraine. In France, organic growth remained sound at 4%, bringing sales to Eur549m.

Pierre Pringuet, chief executive of Pernod Ricard.

The improving business trend in Pernod Ricard’s overall global business, noted in the first half, was confirmed in the third quarter of 2010/11. In addition to strong growth in emerging markets and a recovery in mature markets, portfolio premiumisation was confirmed by 11% organic growth from the group’s top 14 brands in the first nine months, with a significant price/mix effect of 4%. The period also saw a 9% increase in premium brands, which represented 71% of sales in the first nine months compared to 69% in the prior year.

“The third quarter 2010/11 confirmed the improved business trends since the start of the financial year and strengthens our confidence in our ability to meet our targets – organic growth in profit from recurring operations of close to 7% for the full 2010/11 financial year and Net Debt/EBITDA ratio close to 4 at the 30 June 2012 year-end,” says Pierre Pringuet, chief executive of Pernod Ricard.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements