The world’s second-biggest wine and spirits company revealed that, in the six months to December 31 2017, net profit was €1,147M ((£1,007M), up 25% on the same period last year.
The company, which owns brands such as Absolut Vodka and Jacob’s Creek wine, also revealed that sales for the first half totalled €5,082M (£4,464M), with organic growth of +5.1% and reported growth of +0.4%, due to negative foreign exchange.
Continued good performance
The company said that its European business had a “continued good performance”, with sales up 3%, while sales in Asia were up 7% and sales in the Americas rose 6%.
Alexandre Ricard, chairman and ceo, said: “H1 FY18 [first half results for the 2018 financial year] was a very good semester, with an acceleration compared to FY 17, in particular in China, India and global travel retail.
“For full-year FY18, we will maintain our focus on digital, innovation and operational excellence (including pricing). We expect sustained and diversified growth to continue across our regions and brands. We are therefore increasing our guidance for full-year FY18 organic growth in profit from recurring operations to between +4% and +6%.”
Management changes
The company also revealed some senior management changes at the drinks company. Christian Porta, currently chairman and ceo of Pernod Ricard Europe, Middle East and Africa (EMEA) and Latin America (LATAM), is appointed to the newly created position of md, global business development. As a member of the executive board, he will report to Ricard. All brand company ceos will now report to Porta.
Gilles Bogaert, currently md in charge of finance, IT and operations, becomes chairman and ceo of Pernod Ricard EMEA and LATAM, while Hélène de Tissot, currently group strategy and mergers and acquisitions director, becomes group finance, IT and operations director.