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Pernod Ricard reports double-digit growth in H1 results

16 February, 2023

Havana Club owner, Pernod Ricard, has reported 19% organic sales growth in the first half of fiscal 2023, with all spirits segments seeing double-digit growth.

Sales for H1 FY23 reached €7,116m, with a favourable US dollar exchange rate against the euro. 

Alexandre Ricard, chairman and chief executive officer, said: “Our first half performance was very strong, marked by broad-based and diversified growth across all regions and categories. In addition, particularly strong pricing dynamic illustrates the attractiveness of our portfolio of premium brands and enabled us to sustain margins in an inflationary context. 

“We will continue to invest behind our brands, our group-wide transformation and S&R strategy, deliver operational efficiencies and prepare for exciting future growth opportunities. I expect this dynamic growth to continue through FY23 albeit in a normalising environment,” Ricard added.

The Americas saw 7% dynamic growth driven by the US, Brazil and Canada, as Europe saw a “strong performance” in the west and travel retail, with 6% growth.  

Asia saw strong growth of 18%, driven by India, Turkey, travel retail and recovery in South East Asia, with the company seeing a “confident outlook” after the lifting of Covid restrictions.

The company saw momentum in its strategic international brands with its Scotch portfolio, Jameson and Absolut achieving a 13% increase, as its strategic local brands, Seagram’s Indian whiskies and Seagram’s gin, saw the same growth. 

Pernod Ricard’s speciality brands saw a 14% increase with the “very strong development” of Lillet, Italicus, Malfy, Redbreast, Aberlour and Altos, as its strategic wines segment fell 2%. 

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