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Pernod Ricard Reports Impact From COVID-19; Cuts Earnings Outlook

Pernod Ricard (PDRDF.PK,PDRDY.PK,PRN.L) said, with the revised assumptions linked to COVID-19, the Group now projects an organic decline in profit from recurring operations for fiscal 2020 of approximately 20%. On 13 February 2020, the company issued a guidance of between 2% and 4% growth in organic profit from recurring operations.

Alexandre Ricard, CEO, said: "Our business model and strategy are resilient. Our 3-year plan Transform & Accelerate has been very successful, as demonstrated by the fiscal 2019 and first half fiscal 2020 results, and will continue to positively impact the business as we move through the COVID-19 crisis."

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