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