Pernod Ricard announces Q3 FY22 results
Pernod Ricard, the No.2 worldwide producer of wines and spirits, has announced its sales for the first nine months of FY22, and the results are very strong despite a volatile global market.
The total sales in those nine months amounted to €8,407m, with organic growth up 18%.
This was boosted by widespread growth in 'must-win' domestic markets such as India (+19%), USA (+13%) and China (+12%).
Excellent growth could also be found in the European market, despite some deceleration in March, notably due to the impacts of the conflict in Ukraine.
Travel retail enjoyed a welcome boost (+33%) due to increased passenger traffic following the easing of some Covid restrictions.
Alexandre Ricard, chairman and CEO of Pernod Ricard, said: “Our Q3 was very strong and continues the broad-based performance we enjoyed in the first half, with all our regions and must-win markets showing very strong growth.
"The global environment remains volatile with an increasingly challenging and inflationary context. We expect a softer Q4 impacted by Covid disruptions in China, phasing normalisation in the US and conflict in Ukraine. Overall we expect for FY22 a strong diversified sales momentum across the regions due to on-trade rebound, off-trade resilience and a continuing recovery in Travel Retail.
He added: "We are increasing investments to fuel growth momentum. Accordingly, we are providing full-year guidance for FY22 of organic growth in profit from recurring operations of around +17% with some operating margin expansion.”
In terms of brands, Jameson, Martell, Chivas Regal, Absolut, Ballantine’s and The Glenlivet led the way, contributing to a +20% (Q3 +22%) growth.
However, due to the lower New Zealand harvest, strategic wines were down by -3%.
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