Jameson’s 13% global growth the toast of Pernod Ricard’s portfolio

Jameson Irish Whiskey has led the way for international drinks giant, Pernod Ricard in its financial year to date; with global sales of the brand up 13% year-on-year during the nine months to the end of March.

The only other key brand in the French drinks group’s portfolio that saw double-digit sales growth was champagne producer, Perrier-Jouet, with a 17% jump.

Jameson also saw annualised volume growth of 10% for the period. The figures — published yesterday as part of Pernod Ricard’s nine-month update (the group’s financial year runs to the end of June) — carry on the positive growth trend for the iconic Irish whiskey brand. Back in February Pernod reported that year-on-year sales of Jameson were up by 16% (for the six months to the end of December), with volumes ahead by 13% on the corresponding period the previous year.

Yesterday’s update showed that overall group sales for Pernod Ricard amounted to just under €6.2bn; down by 7% — on a year-on-year basis — mainly due to what management called “a highly unfavourable foreign exchange effect”. It added that if that effect were excluded, sales were “stable”.

The period saw Pernod Ricard grow sales by 4% — on a year-on-year basis — in the Americas and by 2% in Europe. The latter was driven by a 9% growth in Eastern Europe, while Western Europe-based sales remained stable.

Management added that the later Easter, increases in excise duty, price increases, phased promotions, heavily impacted its third-quarter performance. It added that while sales in mature markets rose by 1% in the period, emerging markets “remained dynamic” with 7% growth noted.

Sales of Pernod’s key ‘top 14’ brands — Jameson, Malibu, The Glenlivet, Absolut, Chivas Regal among them — were down by 1% against the same period last year.

“In an environment that remains challenging, our performance over the nine months was in line with the half-year and with our annual guidance,” noted Pernod Ricard chief executive, Pierre Pringuet.