Blame those reported numbers on foreign exchange. When looked at on an organic basis, sales in the Americas grew 6%, but foreign exchange offset 7% and group structure offset 1%. Globally, organic sales grew 5%, but were offset 4% by Forex.
Pernod Ricard Group’s net profit rose 25% from a year earlier, thanks to lower financial expenses and some one-time items, including the sale of bulk Scotch inventory.
Pernod Ricard USA’s sales growth in the U.S. is “approaching market growth rates,” the company said. In the U.S., Jameson had continued strong growth with “successful price increases.” Absolut remains in decline in the U.S., but the Lime extension is performing well. Malibu continues to outperform its category. The Glenlivet is “in transition following implementation of a new range.” Martell is gaining share thanks to Martell Blue Swift and VS Single Distillery. And Altos and Avion Tequilas had very strong up, with Altos up 18% according to Nielsen.
Alexandre Ricard, Chairman/CEO, called the first half “a very good semester, with an acceleration vs. FY 17, in particular in China, India and Global Travel Retail.”
Here’s the global organic sales growth rates for Pernod Ricard’s strategic international brands:
Brand Sales Volume
Absolut 2% 3%
Chivas Regal 2% 2%
Ballantine’s 2% 2%
Ricard -8% -8%
Jameson 12% 11%
Havana Club 7% 5%
Malibu 7% 5%
Beefeater 3% 1%
Martell 10% 8%
The Glenlivet 1% 3%
Royal Salute -5% -5%
Mumm 0% -2%
Perrier-Jouet 4% 1%