logo
Plus   Neg
Share
Email

Pernod Ricard Q3 Sales Down; Sees FY18 Profit View At Top End Of Forecast Range

French drinks company Pernod Ricard SA (PDRDF.PK,PDRDY.PK,PRN.L) Thursday reported that its third-quarter sales were 1.977 billion euros, down 0.5 percent from last year's 1.987 billion euros.

Americas' sales fell 10 percent to 545 million euros. Europe sales dropped 3 percent, while Asia / Rest of the World sales grew 8 percent.

Sales on an organic basis grew 9.3 percent enhanced by Chinese yuan or CNY and Easter phasing. This comprised 6 percent rise in the Americas and 18 percent jump in Asia-RoW.

Meanwhile, sales declined in Europe by 1% with continued difficulties in Spain and France together with unfavorable shipment phasing in Russia and adverse basis of comparison in UK.

Sales for the first 9 months of FY18 totaled 7.06 billion euros, with organic growth of 6.3%, driven by Emerging markets.

Further, the company said its Board of Directors meeting on April 18 decided to distribute an interim cash dividend of 1.01 euros per share for the current FY18 financial year. The interim dividend will be paid on July 6.

Looking ahead, the company confirmed its FY18 guidance at the top-end of the range, with organic growth in profit from recurring operations expecting around 6%.

The previous outlook was organic growth in profit from recurring operations in a range of between 4 percent and 6 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) has gone ahead with the approval of antiviral drug remdesivir as first treatment for COVID-19, notwithstanding last week's findings by the World Health Organization (WHO) that the drug is not effective for COVID-19 treatment. Thursday, Gilead Sciences announced that the FDA approved remdesivir, sold under the brand name Veklury. Integrated payments firm American Express Co. (AXP) reported Friday that net income for the third quarter declined to $1.1 billion or $1.30 per share from $1.8 billion or $2.08 per share in the prior-year quarter. Consolidated total revenues, net of interest expense, also decreased 20 percent to $8.8... The Federal Trade Commission or FTC has launched a new fraud reporting platform, using which, consumers can easily report fraud and all other consumer issues directly to the regulator. In a statement, the FTC said its new website, ReportFraud.ftc.gov, will provide a streamlined and user-friendly way to submit reports about scams, frauds, and bad business practices.
Follow RTT