US sales of Jameson boost Pernod revenues
The Paris-based spirits company yesterday reported first-quarter sales (to the end of September) of just over €2.2bn; up 3% on an annualised basis.
While an 8% year-on-year rise in sales of its priority premium wine brands (to €117m) and a 5% jump in sales of key local brands, to €403m helped; the group’s quarterly performance was really driven by a 2% jump in sales of its ‘top 14’ brands, particularly Jameson and Scotch whisky brand The Glenlivet, to €1.43bn. Sales from mature geographical markets rose by 4% with emerging market sales up 2% year-on-year.
The group saw sales in the Americas grow by 6%, boosted by performance in the US. Jameson alone saw its US sales grow by 26%, year-on-year, in the quarter.
Pernod Ricard chairman and chief executive Alexandre Ricard said that the early year performance has been consistent with the group’s aims of gradually improving sales “in a contrasted environment”.
“We are aiming for 1% to 3% organic growth in profit, from recurring operations, for fiscal year 2015/16 and we expect a positive but volatile foreign exchange impact,” said Mr Ricard.
“We continue to implement our long-term growth strategy, while increasing investments behind our priority brands and innovations and remaining very disciplined on costs and pricing.”
Pernod Ricard does not break down global sales performance for individual brands until its interim and full-year results.
However, Jameson’s strong showing in the first quarter indicates another good year for the brand. In the year to end June, Jameson saw sales volume growth of 8.5% and sales value rise by over 10%.
