Pernod Ricard reports strong H1 growth

10 February, 2022

Surging demand for premium spirits powered Pernod Ricard’s 17% year-on-year sales growth in the six months to December 31, 2021.

Sales increased to €5.96 billion for the first half of the firm’s financial year, up 17% on an organic basis.

Profit from current operations increased 22% to €2 billion, which beat analysts’ expectations for a 16.7% rise.

Sales were up 20% in the first quarter of the financial year, but growth slowed to 14% for the second quarter.

Pernod Ricard said it expects to maintain the momentum for the rest of the fiscal year as the on-trade recovers and travel retail starts to rebound.

“Despite the ongoing volatile environment, we expect for FY22 strong sales growth across regions, with continued On-Trade rebound, Off-trade resilience and a gradual Travel Retail recovery,” said chairman and chief executive Alexandre Ricard. “We will increase investments to fuel growth momentum.”

The star performers were Royal Salute (+41%), Beefeater (+31%) and Ballantine’s (+29%). Absolut and Chivas Regal both increased organic net sales by 23%, while Jameson was up 22% and Champagne brand Perrier-Jouët enjoyed 51% growth.

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