Return to growth in Q1,
despite a difficult environment
organic sales growth: +2%
2014/15 guidance:
Organic growth in PRO between +1% and +3%
Sales for the first quarter of 2014/15 totalled ' 2,037 million. Pernod Ricard posted organic growth of +2%, representing a return to growth, including:
- a gradual improvement in Asia-Rest of World (+4%)
- a mixed performance in Europe (-1%)
- continued growth in the Americas (+3%)
Reported growth was +1% due to a slightly unfavourable foreign exchange effect over the period.
The Top 14 (+2%) returned to growth.
Priority Premium Wines declined (-3%) despite the continued growth of the Campo Viejo and Brancott Estate brands.
The 18 Key Local Brands (+7%) reported very good growth driven by Indian whiskies.
As part of this communication, Pierre Pringuet, Chief Executive Officer, stated: 'Pernod Ricard's return to growth in the first quarter illustrates the Group's resilience in a difficult context. We are confident in the strength of our portfolio and distribution network. The roll-out of project Allegro will contribute to strengthening our operational efficiency.'
Alexandre Ricard, Deputy Chief Executive Officer and Chief Operating Officer, added: 'For the full financial year we anticipate a gradual improvement in sales, in an environment that will remain difficult. We plan to increase investment behind our priority brands and innovations. As a result, our 2014/15 guidance is organic growth in profit from recurring operations between +1% and +3%.'
A detailed presentation of sales for the first quarter of 2014/15 can be downloaded from our website: www.pernod-ricard.com
Note: All growth data specified in this press release refers to organic growth, unless otherwise stated.
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