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FRANCE. Pernod Ricard has reported a -15% drop in full-year net profit to €861 million (US$973 million) from €1.02 billion in the year-before period.
The company said sales for the full year 2014/15 totalled €8,558 million, with organic sales growth at just +2% and reported sales growth at +8% “with a very favourable FX impact”. Reported sales in the previous year fell by -7%.
In terms of categories, Pernod Ricard said growth was driven by whiskies, with the “continued strong performance” of Jameson, The Glenlivet, Ballantine’s and Indian whiskies.
However, the company wrote down €652 million on Absolut vodka, as sales were “impacted by a challenging USA market” despite growing elsewhere.
Martell returned to growth, and Champagnes Mumm and Perrier-Jouët enjoyed high single-digit growth, according to the company.
“Our full year results are solid, delivering improving sales and profit from recurring operations in line with guidance. Our strategy has remained consistent and is delivering results,” said Pernod Ricard Chairman and Chief Executive Officer Alexandre Ricard.
“For FY15/16, despite a challenging and volatile macroeconomic environment, we aim to continue gradually improving our business performance. We will continue to support priority brands and innovations while focusing on operational excellence.”
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