The world number two spirits Pernod Ricard announced Thursday a turnover up 22% in the first quarter of its staggered fiscal year, beyond analysts' expectations and above its level before the health crisis.
From July to September, the group that owns Jameson whiskey, Martell cognac and Mumm champagne generated 2.7 billion euros in turnover (+ 20% at constant scope and exchange rates), according to a press release.
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An activity higher than the expectations of analysts surveyed by Factset and Bloomberg, located around 2.6 billion.
As of the presentation of its annual results, at the beginning of September, Pernod Ricard had warned that this first quarter of the 2021/22 financial year would be "
very good
".
Before the health crisis, in the first quarter of 2019/20, sales amounted to nearly 2.5 billion euros.
It had dropped to 2.2 billion last year around the same time under the effect of the Covid-19 pandemic and its procession of closed bars.
Strong demand ahead of the holiday season
"
We anticipate continued dynamic sales growth during the 2021/22 fiscal year,
" said CEO Alexandre Ricard, quoted in the
press
release.
The pace will however be "
more moderate than in the first quarter
".
The group does not deliver any targets for its annual results.
“
The start-up is very dynamic in all regions, with solid demand and good shipments before the holiday season,
” he noted elsewhere.
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Particularly affected by the health crisis, the sale of spirits in airports (travel retail) jumped 55% at constant exchange rates during the quarter.
Activity "
is still very limited but benefits from a favorable basis of comparison
", specifies Pernod Ricard, which notes that international travel is resuming "
gradually
".
