World: Pernod Ricard says sales growth slows slightly in Q3

French spirits maker Pernod Ricard said on April 20 that sales growth slowed slightly in the third quarter, reflecting weakness in India and the earlier timing of the Chinese New year.

Pernod, the world’s second-biggest spirits group after Britain’s Diageo, kept its profit outlook unchanged and achieved some robust quarterly growth in the United States and in Europe.

Pernod Ricard posted sales of 1.987 billion euros ($2.13 billion) in the three months to March 31, up 3% on a like-for-like basis, compared with 4% growth in the second quarter.

This was, however, above the average of analysts’ estimates for 1% growth in a company-compiled consensus.

The owner of Mumm champagne, Absolut vodka, Chivas Regal Scotch whisky, and Jameson Irish whiskey kept its forecast for underlying operating profit growth of between 2% and 4% in the full year to June 30.

20 April, 2017