Pernod Ricard toasts strong growth in India and China
The world’s second-largest drinks maker Pernod Ricard announced six per cent sales growth in the last financial year, boosted by strong sales in China and India.
The French company, which owns brands such as Jameson whiskey, Martell cognac and Beefeater Gin, posted revenue of €8.987bn (£8.148bn) for the 2017-18 financial year.
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It boosted its dividend by 17 per cent to €2.36 which it said corresponded to an increase in pay-out ratio to 41 per cent.
It predicted growth of between five and seven per cent for the current financial year.
In Asia it grew sales nine per cent last year, which is said was down to strong growth in Chin and India.
Americas, its biggest market, also performed well, growing sales six per cent.
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Martell and Jameson sales were “very strong”, both growing by 14 per cent.
Absolut vodka grew sales two per cent, however sales in the US continued to decline.
Chair and chief executive Alexandre Ricard said: “Consistent strategic implementation has enabled us to deliver a significant improvement in business performance while investing for the future. Our sales have accelerated and diversified, and our margins improved.”