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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%."

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