Jameson sales in US and China drive growth in Pernod Ricard revenues

French spirits giant said it saw a 'very dynamic start' in all markets, 'with robust demand and strong shipments ahead of the festive season'
Jameson sales in US and China drive growth in Pernod Ricard revenues

Strong demand in China, the US and India for core premium brands like Jameson, Absolut vodka, and Martell cognac drove the increase, which was also supported by a resilient off-trade market and the reopening of bars and hospitality outlets in key international markets.

Continued strong sales of Jameson Irish Whiskey – particularly in China and the US – have buoyed overall revenues for parent group Pernod Ricard.

The French spirits giant – second only in size to Guinness owner Diageo – said organic group sales for its first quarter surged by a better-than-forecast 20% to just over €2.7bn. The quarter covers the three months to the end of September. 

It said strong demand in China, the US and India for its core premium brands like Jameson, Absolut vodka, and Martell cognac drove the increase, which was also supported by a resilient off-trade market and the reopening of bars and hospitality outlets in key international markets.

All in all, Pernod Ricard said it saw a “very dynamic start” in all markets, “with robust demand and strong shipments ahead of the festive season”.

Travel retail subdued

However, travel retail – sales through airport shops, in the main – remained subdued.

Group chairman and chief executive Alexandre Ricard said revenue growth was expected to continue.

“We have had a very dynamic start to the year, as expected, with strong demand in most markets. The off-trade remains resilient and I am particularly pleased to note the continued recovery of the on-trade,” he said.

“We expect good sales growth to continue through fiscal year 2022, albeit moderating versus quarter one. We will continue to implement our strategy, notably accelerating our digital transformation and reinvesting to seize present and future growth opportunities," Mr Ricard added.

In Pernod Ricard’s last full year – the 12 months to the end of June – Jameson reported 14% sales volume growth, achieving double digit percentage sales increases in key markets like Australia, the US, Britain, Russia and Germany – as well as huge growth in areas like Poland and the Ukraine.

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