Pernod Ricard reports "historic" growth

Published: 23 July, 2008

2007/08 interim net sales hit 3,713 million (2,775m).

Chairman and ceo of the group aims for 2007/08 growth in operating profit from ordinary activities, on a like-for-like basis, of about +12%.

Europe (excluding France): 1,262m (942m) (+7.4%, with organic growth at +9%).

The Europe region had an excellent 1st half-year, underlined by a very good 2nd quarter, due to:

- the spectacular development of Central and Eastern Europe, which generated more than 60% of European growth. Russia (Chivas Regal, Jameson, Ballantine's), Poland (Ballantine's, Wyborowa), Ukraine and Romania were the main contributors to this growth.

- the solid growth in most major Western European markets (Spain, UK, Ireland, Greece). Italy is the main market in decline.

France: 396m (295m) (+8%) France had a very good first half-year including an outstanding second quarter. All major whisky brands reported growth: Chivas Regal, Ballantine's, Jameson, Aberlour, The Glenlivet and Clan Campbell.

Mumm champagne also recorded very strong growth but second half-year growth will be adversely affected by product availability. Ricard registered a marked recovery in Q2 and gained market share.

Patrick Ricard, Chairman and CEO of the group said: "I could describe this first half-year as historic, given the outstanding sales dynamism; this reflects the relevance of the Pernod Ricard model, the performance of our premium brands and our very strong geographic presence in emerging markets.

"These results and the very positive sales outlook for the second half-year enable me to be confident for the full financial year and to revise our growth guidance upwards. We now aim for 2007/08 growth in operating profit from ordinary activities, on a like-for-like basis, of about +12%, compared to around +10% previously)."

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