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Pernod Ricard : Results exceed expectations for the 2020/21 financial year

Pernod Ricard : Results exceed expectations for the 2020/21 financial year

On Wednesday, the Pernod Ricard group revealed a 4% increase in financial results for the year 2020/21, exceeding expectations.

 

In the 2020/21 financial year, which ended at the end of June, Pernod Ricard achieved sales of €8,824 billion, including organic growth of 9.7%.

 

In other news, the group’s sales are up in all regions. In the Americas, there was excellent growth of 14% thanks to the United States, Canada and South America, offsetting the decline in travel retail.

 

In Asia, the score is over 11% growth, driven by China, Korea and Turkey, as well as India.

 

Finally, the smallest percentage is given to Europe, which nevertheless remains up by 4%. These results are driven by the rebound of the UK, Germany and Eastern Europe.

 

These financial results are more than expected as they are close to pre-crisis levels. The group’s net profit almost quadrupled over the year to €1.3 billion, returning to a level almost common in the 2018/19 financial year. This increase can be explained by the favourable comparison base on non-current operating expenses.

 

The 11% growth of the international strategic brands was sustained thanks to a rebound in activity, driven by Martell cognac in China and Jameson whisky in the United States.

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As a reminder, Pernod Ricard, the world’s number two in wines and spirits, aims to become the leader in its sector, with a presence in more than 160 countries and a portfolio of premium brands, such as Mumm champagne and Jefferson’s whisky.

 

Read also > PERNOD RICARD SHARES RISE ON ANNOUNCEMENT OF CERTAIN US TAX REFUNDS

 

Featured photo : © Pernod Ricard

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