Pernod Ricard Reports Strong Nine-Month Sales Growth, Q3 Dip

Pernod Ricard reported strong, broad-based organic sales growth of 8% for the first nine months of fiscal year 2023, reaching €9,507 million. The growth was driven by significant price increases across all regions and product categories.

However, the third quarter of FY23 saw a 2% organic decline in sales, totaling €2,391 million. This dip was attributed to market normalizations in key regions like the USA and China, coupled with strong comparable periods from the previous year. Despite the quarterly slowdown, the company anticipates a very strong fourth quarter driven by favorable year-on-year comparisons and further price adjustments.

For the full fiscal year 2023, Pernod Ricard reaffirmed its guidance for organic growth in profit from recurring operations to be around 10%, with a slight expansion in organic operating margin. The company also plans to conclude its share buyback program and continue strategic investments in brands and inventories.

An interim dividend of €2.06 per share is set to be detached in early July. While acknowledging a volatile global environment, Pernod Ricard expressed confidence in its full-year performance.