Pernod Ricard posted “record sales” in the United States and China during the staggering 2020/21 fiscal year, allowing its annual sales to grow by 4%, exceeding expectations, according to results published Wednesday by world’s second-largest sentiment. During the 2020/21 fiscal year, which ended at the end of June, the group that owns Jameson Whiskey, Martell Cognac and even Mam’s Champagne made just over 8.8 billion in sales, an increase of 4.5% over one year, according to a press release.
Thus, it approaches its level before the health crisis (approximately 9.2 billion in 2018/2019). It even exceeds it at fixed exchange rates, also highlighting the group. Its net profit nearly quadrupled in one year, to €1.3 billion, returning to a level similar to the 2018/19 financial year.
This ‘very strong increase’ was identified due to the ‘non-current operating expense comparison basis’.
Net profit fell sharply last year (-77%), affected by the write-down of assets, in particular on the Absolut vodka brand.“Thanks to the solidity of our fundamentals, our teams and our brand portfolio, we are coming out stronger from this crisis”, confirms the group’s CEO, Alexander Rijkaard, in the press release.
The group’s preferred indicator, current operating income, rose 7% to €2.4 billion.
Globally, sales growth was driven by the United States and China, which had “record sales”: more than 2 billion euros for the United States and more than 1 billion euros for China.
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