Pernod Ricard reports ‘very dynamic’ Q1

Strategic international brands – such as Martell, Jameson, Ballentine’s, Chivas Regal and Absolut – grew 24%. Speciality brands – such as Malfy, Avion, Del Maguey, Aberlour, Monkey 47, US whiskeys and Lillet – also powered sales with 21% growth.

Pernod Ricard calls it a ‘very dynamic’ Q1, on a low comparison basis, with strong demand in most markets. It says the off-trade remains resilient while the reopening of the on-trade is adding to growth.

By region, sales in the US grew 9%, Europe grew 22%; India grew 27% and China grew 22%.

While the travel retail channel is still ‘very subdued’ it benefited from a low basis of comparison: having been particularly impacted by the pandemic it saw growth of 55% in Q1, 2022.

Alexandre Ricard, Chairman and Chief Executive Officer, Pernod Ricard, said:  “We have had a very dynamic start to the year, as expected, with strong demand in most markets. The Off-trade remains resilient and I am particularly pleased to note the continued recovery of the On-trade.​

“We expect good sales growth to continue through FY22, albeit moderating vs. Q1. We will continue to implement our strategy, notably accelerating our digital transformation and reinvesting to seize present and future growth opportunities.”​