Jameson sales rise helps strengthen Ricard profits

PERNOD Ricard’s standout performer during the first nine months of 2004 was Jameson, one of its Irish whiskey brands, according to the latest figures from the French-based drinks giant.

Jameson’s sales were ahead by 11% as the group started into the final quarter, according to sales figures for the period released yesterday.

The group says it is on target to grow operating profits at an organic level by about 8% for the year.

At the half-way point in the year, Jameson sales were up 12% and the brand has maintained its momentum into the third quarter.

Pernod Ricard targetted the Irish whiskey after its takeover of Irish Distillers in the 1980s as one of its key international brands.

The drinks giant, the third largest in the world, reported a 6% sales increase to almost €2.4 billion in its wines and spirits division.

Negative exchange rates impacted the figures by €73m while a further loss of €13m followed the disposal of Crus et Domaines de France and local brands in the Netherlands.

The group’s brands were up by 24% in its Asia and rest of the world markets, while the Americas showed a growth rate of 6%. Sales in Europe were up almost 3.6%, mainly due to strong performances in Britain, Germany and Greece.

With the smoking ban and the fall in alcohol sales a big factor here, it is understood that overall Ireland, apart from Jameson, did not have a great nine months.

For the first half, the drinks group reported net profits of €169m, an increase of 4.7% on the same period last year. Underlying sales were up 6% while underlying operating profits rose by 11%.