Pernod Ricard sees gross sales drop -3% in H1 FY24 – Drinks Worldwide

In keeping with the corporate’s report, H1 FY24 gross sales totalled €6,590m, an natural decline of -3% (-7% reported), with a unfavourable FX influence of €(576)m primarily linked to the US greenback, Turkish lira, Chinese language yuan and Argentinian peso, with broadly half of it offset by a optimistic perimeter influence of +€264m.

Alexandre Ricard, chairman and CEO, stated: “We delivered a sturdy efficiency within the first half of the yr, as we confidently steer Pernod Ricard by means of the normalisation of the spirits market, following two years of excellent development.

“We achieved robust gross margin enlargement on the again of considerable pricing actions, because of the facility of our premium portfolio. With a diversified footprint spanning mature and rising areas and a broad presence throughout spirits classes, we’re in a position to climate volatility and proceed to achieve share in lots of markets.”

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