by Hervé Lalau
Pernod Ricard SA, the world's second- largest wine and spirits company, has announced that its consolidated sales for the 9 months to 31 March 2007rose 7.2 percent to €4,898 million. Although organic growth was even higher at
10.3%, an unfavourable foreign exchange impact cost the company 3%. Sales growth in the 3rd quarter of those nine months was particularly strong due to vigorous Europe sales, successful Chinese New Year sales and a recovery of its wine business. Consolidated sales for the 3rd quarter amounted to € 1,391 million, an increase of +6.8%, of which +12.2% was organic growth, -4.0% foreign exchange impact and -0.9% group structure effect. Revenue climbed to €1.39 billion ($1.9 billion) in the three months through March from €1.30 billion a year earlier. That was higher than the €1.35 billion estimate of leading analysts.
Commenting on these results, Patrick Ricard, Chairman and CEO, stated that "these very good results are in line with our expectations and indicate favourable prospects for the second half year. We therefore confirm, guidance of around 20% growth in net profit from ordinary activities (Group Share), excluding foreign exchange impact, for the full year.”
