First quarter 2015/16 sales : continued gradual improvement in Q1 in a contrasted environment

Press Release 19/10/2015

Organic sales growth: +3%
(reported growth: +9%)
2015/16 guidance: organic growth in pro between +1% and +3%

 

Download the Press Release

Sales for the first quarter of 2015/16 totalled ' 2,223 million. Pernod Ricard postedorganic growth of +3%, confirming the continuation of a gradual improvement in Sales growth, with:

 - A good start in Europe (+3%)

-  Improvement in the Americas (+6%) driven by the USA

-  Growth deceleration in Asia-Rest of World (+1%) due to a difficult environment in China

Reported growth was +9% due to a highly favourable foreign exchange impact over the period.

The Top 14 posted a good performance (+2%), driven by Jameson and The Glenlivet.
Priority Premium Wines rebounded at +8%, due to improvement in the UK and Australia.
The 18 Key Local Brands grew +5% thanks to Indian whiskies and Passport.

 

We continue to implement our long-term growth strategy, while increasing investments.' 

Alexandre Ricard, Chairman and Chief Executive Officer

 

As part of this communication, 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.'

*Over the full 2015/16 financial year, the foreign exchange impact on Profit from recurring operations is estimated at approximately +' 20 million, based on average FX rates for full FY 2015/16 projected on 16 October 2015 , particularly a EUR/USD rate of 1.13.

 

Note: All growth data specified in this press release refers to organic growth (at constant FX and Group structure), unless otherwise stated.

 

A detailed presentation of Sales for the first quarter of 2015/16 can be downloaded from our website: www.pernod-ricard.com

 

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