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Pernod Ricard FY20 Profit From Recurring Ops. Declines; Organic Decline In Sales At 9.5%

Pernod Ricard (PDRDF.PK,PDRDY.PK,PRN.L) reported that its fiscal 2020 Group share of net profit from recurring operations declined 13% to 1.4 billion euros. Net earnings per share from recurring operations was 5.45 euros compared to 6.23 euros. Group share of net profit was 329 million euros, down 77% reported, impacted by 1 billion euros asset impairment triggered by Covid-19.

Fiscal 2020 net sales declined 8% to 8.45 billion euros, with an organic decline of 9.5%. Sales growth in first half was robust but second half was impacted by Covid.

Recurring free cash flow was 1.00 billion euros, reflecting the impact of Covid-19 on the business. A dividend of 2.66 euros is proposed for the AGM of 27 November 2020.

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