Pernod Ricard reports sales for the fiscal first quarter jumpd 22% (11% organic), with a strong, broad-based performance across all markets.
In the U.S., there was strong distributor depletions as shipments were impacted by phasing. International brands were up 12% worldwide, with very dynamic growth by Scotch, Jameson, Absolut, Beefeater and Martell. Strategic local brands were up 13%, driven by the strong double-digit growth of Seagram's whiskies. Specialty brands were up 16%, but strategic wines eased 8%, notably in the U.S. and UK.
Reported sales growth was aided by a favorable foreign exchange impact, mostly from the U.S. dollar and the Chinese yuan vs. the Euro.
Alexandre Ricard, chairman/CEO. said he was "hugely encouraged by our start to the year. Our performance continued to be broad-based with growth across many markets and diversified across our portfolio with all our spirits segments in double-digit growth."