Whiskey and cognac businesses deliver record results for Pernod Ricard

11-Feb-2022 - France

French spirits producer Pernod Ricard has posted record earnings in the first half of the financial year thanks to strong business with Jameson whiskey and Martell Cognac. Compared with the same period last year, the group increased its profit from continuing operations under its own steam by 22 percent to just under two billion euros, it announced in Paris on Thursday.

Sales adjusted for foreign exchange climbed 17 percent to 5.96 billion euros in the six months to December, with revenues including foreign exchange effects increasing somewhat more strongly.

With growth of more than a fifth, sales in Europe rose particularly strongly. According to the company, strong demand helped pass on rising raw material and logistics costs to customers through higher selling prices.

For the second half of the year, the Group expects sales to continue to rise in all regions of the world. However, profitability is expected to increase less strongly than in the first half of the year. With the positive result, Pernod Ricard joins the ranks of its competitors Diageo and Remy Cointreau, which had also recently reported good business.

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https://www.yumda.com/en/news/1174733/whiskey-and-cognac-businesses-deliver-record-results-for-pernod-ricard.html