logo
Plus   Neg
Share
Email

Pernod Ricard FY18 Profit Climbs, Ups Dividend; Sees FY19 Organic Profit Growth

French drinks company Pernod Ricard SA (PDRDF.PK,PDRDY.PK,PRN.L) reported Wednesday that its fiscal 2018 Group share of net profit increased 13 percent to 1.58 billion euros from last year's 1.39 billion euros, thanks in particular to a reduction in financial expenses.

Group share of net profit from recurring operations grew 2 percent to 1.51 billion euros from 1.48 billion euros last year. Profit from recurring operations, meanwhile, dropped 2 percent form last year to 2.36 billion euros.

Net sales for fiscal 2018 totaled 8.987 billion euros, down 0.3 percent from 9.01 billion euros a year ago. Organic Sales growth was 6%, thanks to consistent strategy implementation.

In the fourth quarter, net sales dropped 2 percent on a reported basis to 1.93 billion euros, but grew 5 percent organically.

Further, the company said a dividend of 2.36 euros is proposed for the Annual General Meeting of November 21, up 17% from FY17.

Alexandre Ricard, Chairman and Chief Executive Officer, said, "FY18 was a very strong year. ...In FY19, in a still uncertain geopolitical and monetary environment, we will continue consistently implementing our strategy. Our guidance for FY19 is organic growth in Profit from Recurring Operations between +5% and +7%."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Billionaire Warren Buffett's Berkshire Hathaway reported a profit for the second-quarter that increased 87 percent from last year, as the value of its investment portfolio increased with the stock market. But it took about $10 billion write down on the value of its Precision Castparts aircraft parts unit due to the impact of the COVID-19 pandemic. Operating profit declined 10 percent. Twitter has had preliminary talks with TikTok's Chinese owner ByteDance to buy the U.S. operations of the video-sharing app, the Wall Street Journal reported citing people familiar with the matter. Meanwhile, Microsoft has been the only company so far to say publicly it is pursuing TikTok. Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients.
RELATED NEWS
Follow RTT