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H1 results for Pernod Ricard show stability as Alexandre Ricard steps up as CEO

Published:  12 February, 2015

Sales growth for the first half of the financial year for Pernod Ricard was minimal, but stable, ahead of the announcement of leadership changes at the drinks giant.

Alexandre RicardAlexandre RicardAlexandre Ricard, Pernod Ricard's new chief executive and chairman of the board

Sales growth for the first half of the financial year for Pernod Ricard was minimal, but stable, ahead of the announcement of leadership changes at the drinks giant.

Danièle Ricard resigned as chairwoman of the board of directors and as director of the company and long-time chief executive Pierre Pringuet's term ended with Alexandre Ricard being named as both the chief executive of the company and the chairman.

Pierre Pringuet will remain as vice-chairman of the board, but will also be taking the lead as chairman of the Scotch Whisky Association.

Sales growth was 1% totalling €4,621 million, which was mostly stabilised by strong growth in whiskey and Champagne helping to mediate the impact of lost sales in the premium wine category.

Whiskey growth was driven primarily by The Glenlivet brand which grew net sales by 14% and volumes by 11%. Irish whiskey Jameson also helped contribute to category growth, with its net sales growing by 10% and volumes grew by 8%.

Pierre Pringuet, outgoing chief executive officer, Pernod Ricard

Champagne also helped boost growth for the company with Mumm growing volume by 14% and net sales growing by 8%. Perrier Jouët volumes also spiked with volumes up 10% and net sales also climbing 9%.

Both Champagne and whiskey experienced healthy growth with both volumes and values growing simultaneously in the right direction.

Priority premium wines sale growth declined by -2% primarily due to a decrease in demand for the Jacob's Creek brand.

Asia and the rest of the world did show improvement, but that attributed to strong performance in India, Africa-Middle East and travel retail.

Europe showed little change, although the UK and Spain are showing improvements, particularly with the Campo Viejo brand in the UK.

Alexandre Ricard, chief executive officer and chairman of the board

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