A gradual improvement in Asia- Rest of World was recorded at 4%, with a 'mixed performance' in Europe at -1%. Pernod has documented 3% continued growth in the Americas.
Priority Premium Wines declined 3%, despite continued growth of the Campo Viejo and Brancott Estate brands. The 18 key local brands reported 7% growth and the top 14 brands net sales and volumes returned to growth at 2%.
Pierre Pringuet, chief executive officer, said: “Pernod Ricard’s return to growth in the first quarter illustrates the Group’s resilience in a difficult context. We are confident in the strength of our portfolio and distribution network. The roll-out of project Allegro will contribute to strengthening our operational efficiency.”
Alexandre Ricard, deputy chief executive officer and chief operating officer, added: “For the full financial year we anticipate a gradual improvement in sales, in an environment that will remain difficult.
“We plan to increase investment behind our priority brands and innovations. As a result, our 2014/15 guidance is organic growth in profit from recurring operations between +1% and +3%,” said Ricard.