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
Google Stadia, the tech giant's game streaming service that was unveiled in June, has announced it will launch 12 games on November 19. To celebrate the start of holiday season, coffee retail giant Starbucks Corp. (SBUX) is offering a Happy Hour deal on Thursday, November 14. On November 14 from 2-7 p.m., Starbucks customers can buy one, get one free on any handcrafted beverage, including holiday beverages, size grande or larger. Starbucks... Walmart said it has hired more than 243,000 military veterans nationwide since 2013 and remains ahead of schedule to meet its goal of hiring 250,000 military veterans by the end of 2020. The retail giant introduced the Veterans Welcome Home Commitment on Memorial Day 2013, as part of its commitment to service members and their families. The company's initial goal was to hire 100,000 veterans.
RELATED NEWS
Follow RTT
>