Global drinks giant, Pernod Ricard has posted sales for the first quarter of 2015/16 which totalled €2,223m (£1,626m).
The company posted organic growth of 3%, confirming the continuation of a gradual improvement in sales growth, with a rise in European sales of 3%); improvement in the Americas (up by 6%) driven by the USA, and growth deceleration in Asia-Rest of World (1%) due to a difficult environment in China
Reported growth stood at 9% due to a highly favourable foreign exchange impact over the period.
Alexandre Ricard, Chairman and Chief Executive Officer, stated, “The beginning of the financial year is consistent with our scenario of continued gradual improvement in Sales in a contrasted environment. We are aiming for +1% to +3% organic growth in Profit from Recurring Operations for FY 2015/16 and we expect a positive but volatile foreign exchange impact*.
'We continue to implement our long-term growth strategy, while increasing investments behind our priority brands and innovations and remaining very disciplined on costs and pricing.”
Created in 1975 by the merger of Ricard and Pernod, the group holds one of the most prestigious brand portfolios in the sector. The brands include: Absolut Vodka, Ballantine’s, The Glenlivet Scotch whiskies, Jameson Irish whisky, Martell cognac, Havana Club rum, Beefeater gin, Kahlúa and Malibu liqueurs, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, Brancott Estate and Kenwood wines.