- Three-month sales – to end of September – rise 11% to EUR3.31bn (US$3.24bn)
- Price increases contribute +7% to growth rate in fiscal first quarter
- Sales in China hit record quarterly high
Pernod Ricard has posted a double-digit top-line lift from its most recent quarter, with the group’s rate of top-line growth returning to more ‘real-life’ levels from a year ago.
In October last year, the brand owner saw its sales in the three months to the end of September 2021 leap 20% on the corresponding period a year earlier. The same quarter of this year, Pernod’s financial Q1, delivered an 11% lift, thanks in part to a “strong price effect” with further price rises implemented in markets including the US during the three months.
The top-line increase is just below Moet Hennessy’s +14% in the same quarter, which was announced earlier this month.
While all three of Pernod Ricard's reporting regions came in up, 'Asia/Rest of the World' was the standout, climbing by 20% compared to 'Europe' at +4% and 'Americas' at +6%. China's contribution - the market rose 9% in sales terms for the company - was helped by a "strong" Mid-Autumn Festival period, augmented by price increases.
India was also credited for its spirits premiumisation trends: Absolut, Jameson and the wider Scotch portfolio all earned namechecks.
Elsewhere on a by-market basis, the US was up by only 2% with Pernod Ricard blaming "softer shipments due to phasing". Despite the lower growth rate, the group noted strong sales in the country for Jameson, Malibu, The Glenlivet and American whiskey brand Jefferson's, which the company inherited after acquiring Castle Brands three years ago.
A healthy lift in Global Travel Retail sales - to be expected on a year-on-year basis - was aided by "increased consumer basket size", according to the company.
Pernod Ricard's official financial Q1 results announcement.
