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Pernod Ricard delivers ‘strong’ H1 results, with Jameson in demand

By Rachel Arthur+

09-Feb-2017
Last updated on 09-Feb-2017 at 12:20 GMT2017-02-09T12:20:00Z

pic: iStock
pic: iStock

Strong growth in the US for Jameson Irish Whiskey has helped boost Pernod Ricard’s H1 performance, the wine and spirits giant reported this morning. 

Total global Jameson sales were up 20% in H1, with volumes growing 16%.  

Organic sales for the whole company grew 4%, representing a continued improvement compared to FY16, with reported sales growth of 2%. Sales for H1 2017 totalled €5,061m ($5,412.5m).

Pernod Ricard says continued improvement was driven by strong growth in the US for Jameson; improvement in China, travel retail and Russia; and good performance for the Absolut, Martell and Chivas brands.

This came despite the adverse impact of demonetisation leading to growth deceleration in India.

Second quarter sales were €2,813m ($3,008m), showing 4% organic growth, and reported sales growth of 3%.

Alexandre Ricard, chairman and CEO, says that 2017 offers an ‘uncertain environment’ but that the company’s strategies have been delivering results.

“Our half-year results are strong, delivering a continued performance improvement,” he said.

“Our strategy remains consistent and is driving results. For full year FY 17, in an uncertain environment, we plan to continue improving our business performance year-on-year versus FY 16.

“We will continue to support priority markets, brands and innovations while focusing on operational excellence. We expect to deliver organic growth in profit from Recurring Operations in line with the guidance of +2% to +4%.”  

Pernod Ricard says its operational excellence program for 2016-2020 is running to schedule as it seeks to improve operational efficiency in manufacturing, procurement, A&P and supply chain.

Last month Pernod Ricard North America completed the acquisition of a majority share of West Virginia based distiller Smooth Ambler, a producer of high-end spirits including Smooth Ambler Contradiction Bourbon.  

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