Pernod Ricard's sales for the first quarter of 2014/15 totalled €2,037million. The company posted organic growth of +2%, representing a return to growth, including:
- a gradual improvement in Asia-Rest of World (+4%)
- a small dip in Europe (-1%)
- continued growth in the Americas (+3%)
Reported growth was +1% due to a slightly unfavourable foreign exchange effect over the period, while the Top 14 (+2%) returned to growth. Priority Premium Wines declined (-3%) despite the continued growth of the Campo Viejo and Brancott Estate brands, and the 18 Key Local Brands (+7%) reported very good growth driven by Indian whiskies.
Pierre Pringuet, Chief Executive Officer, stated: "Pernod Ricard's return to growth in the first quarter illustrates the Group's resilience in a difficult context. We are confident in the strength of our portfolio and distribution network. The roll-out of project Allegro will contribute to strengthening our operational efficiency."
Alexandre Ricard, Deputy Chief Executive Officer and Chief Operating Officer, added: "For the full financial year we anticipate a gradual improvement in sales, in an environment that will remain difficult. We plan to increase investment behind our priority brands and innovations. As a result, our 2014/15 guidance is organic growth in profit from recurring operations between +1% and +3%."