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Pernod Ricard Q1 sales beat forecasts with strong demand in China and U.S. -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Bottles of Pernod Ricard’s aniseed-flavoured, alcoholic beverage were displayed at the news conference held by Pernod Ricard in Paris on August 29, 2018, to announce its annual results. REUTERS/Christian Hartmann/File Photo

PARIS (Reuters), a French spirit maker Pernod Ricard (PA) indicated that they expect good sales growth for the next fiscal year in 2022, but it might moderate a bit, following strong demand in China and India which helped them achieve a forecast-beating 20% increase in sales in the first quarter.

Pernod, second in spirits market worldwide Diageo (LON) The LON stated that the home consumption of goods remained strong, and its markets were supported by the opening of new bars and restaurants after COVID-19 restrictions were lifted.

Although it was subdued, travel retail benefited from the quarter’s low comparison base.

Pernod Ricard’s fiscal year began on July 1st.

Pernod, the company that owns Mumm champagne, Martell cognac and Absolut vodka, reported sales of 2.71 billion euros ($3.17billion) for its first quarter ending Sept. 30. This was a 20% increase over market expectations of a 15% sales growth.

($1 = 0.8583 euros)

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