Pernod Ricard Q1 Sales Rise; Confirms FY19 Outlook - Quick Facts

(RTTNews) - French drinks company Pernod Ricard SA (PDRDF.PK, PDRDY.PK, PRN.L) reported Thursday that its sales for the first quarter of fiscal 2018 totaled 2.39 billion euros, up 7.2 percent from last year's 2.23 billion euros.

The results reflected an unfavorable FX impact, mainly from Indian Rupee and Turkish Lira. Organic sales growth was 10.4%.

In the Americas, reported sales dropped slightly, while organic sales grew 2 percent. Sales were slower in USA, due to shipment phasing, although underlying trend remains broadly in line with market.

Asia-RoW sales climbed 18 percent on a reported basis and 23% organically, boosted by technical impacts. The company recorded strong growth across all categories in China, further enhanced by advance shipments.

In Europe, reported sales dropped 1 percent, while organic sales were up 1 percent. Strong Sales in Eastern Europe, while sales in France and Spain declined, with challenging markets.

Looking ahead, the company said first half will benefit from the earlier Chinese New Year. Growth will then moderate in full-year FY19, in particular due to Martell coming back in line with its medium-term high-single-digit volume growth target.

For full-year FY19, a slightly negative FX impact is expected.

Alexandre Ricard, Chairman and Chief Executive Officer, stated, "We have had a particularly good start to the year, as expected. In an uncertain geopolitical and monetary environment, we confirm our FY19 guidance of organic growth in Profit from Recurring Operations of between +5% and +7%."
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