Falling sales in the Americas hit Pernod Ricard’s Q3 results | Progresiv
Spirits company Pernod Ricard has registered mixed Q3 sales results, as strong net sales in Asia were tempered by a 10% net sales decline in the Americas and a 3% drop in Europe, though organic growth increased 9.3%. 
Pernod Ricard’s overall net sales for the period were stagnant, as sales fell by 10 million euros to 1.98 billion euros when compared to the 1.99 billion euros result recorded last year, which the company partly attributed to difficulties in France and Spain.
American net sales of 545 million euros represented a year-on-year decline of 58 million euros, while European net sales of 532 million euros represented a 15 million euros fall.
Despite poor net sales, the company’s 9.3% organic growth figures were driven by an 18% increase in Asia, thanks in part to increased sales during Chinese New Year.
Pernod Ricard claims that the diversification of its sources of growth has contributed to the rise in organic growth, with the company’s international brands such as Martell, Jameson and Chivas all performing strongly throughout the financial year.
Alexandre Ricard, Pernod Ricard’s chairman and CEO, said: “We have very strong year-to-date sales growth at 6.3%.
“Our strategy is consistent and driving results, in particular in terms of diversifying the sources of growth. “We confirm our FY18 guidance given to the market on 9 February 2018 at the top-end of the range, with organic growth in profit from Recurring Operations of +6%.” (www.foodbev.com)
