Pernod Ricard Sales Up 19%, Net Jumps 23%

Pernod Ricard reports sales for the first half of fiscal 2023 were 19% higher than the comparable year-earlier period (12% higher, organically).  

The company said sales growth was broadbased across all regions.  In the Americas, sales rose 7% drive by the U.S. with favorable phasing, Brazil and Canada.  Asia-Rest of World saw 18% growth in sales and sales in Europe were up 6%.

All spirits segments are growing double-digit, the company said.  Strategic international brands surged 13%, powered by the Scotch portfolio, Jameson and Absolut.  Strategic local brands, including Seagram's Indian whiskies and Seagram's Gin, also advanced 13%, and special brands jumped 14%.  

Softness in the UK resulted in a strategic wines easing 2%, the company said.  

Alexandre Ricard, Chairman and Chief Executive Officer, said: “Our first half performance was very strong, marked by broad-based and diversified growth across all regions and categories. In addition, particularly strong pricing dynamic illustrates the attractiveness of our portfolio of premium brands and enabled us to sustain margins in an inflationary context.

"We will continue to invest behind our brands, our group-wide transformation and S&R strategy, deliver operational efficiencies and prepare for exciting future growth opportunities," he said, adding:

"I expect this dynamic growth to continue through FY23 albeit in a normalizing environment, demonstrating the strength of our strategy and the agility, dedication and exceptional engagement of our teams around the world.”