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Pernod Ricard H1 Profit Up 1%; Lowers FY20 Profit Growth Outlook - Quick Facts

French drinks company Pernod Ricard SA (PDRDF.PK,PDRDY.PK,PRN.L) reported Thursday that its first-half group share of net profit rose 1 percent to 1.032 billion euros from last year's 1.023 billion euros.

Group share of net profit from recurring operations or PRO grew 10 percent to 1.22 billion euros from 1.11 billion euros a year ago.

Net sales for the year increased 5.6 percent to 5.47 billion euros from 5.19 billion euros last year. Organic net sales growth was 2.7 percent.

Looking ahead to the second half of the year, the company said it remains confident in its strategy despite the particularly uncertain environment from a geopolitical standpoint, with the additional pressure related to the COVID-19 outbreak.

For fiscal 2020, Pernod Ricard said that assuming a severe impact of COVID-19 mainly on the third quarter, organic growth in profit from recurring operations for the year is now projected in a range of 2 percent to 4 percent. The company added it will continue to closely monitor its environment.

Earlier, the company forecast fiscal 2020 organic growth in profit from recurring operations of between 5 percent and 7 percent.

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