American Pernod Ricard sales help boost profit | RetailDetail

American Pernod Ricard sales help boost profit

American Pernod Ricard sales help boost profit

Drink manufacturer Pernod Ricard has managed to beat analysts' expectations in the first quarter, mainly thanks to excellent American sales. The positive news prompted the company to adjust its full-year forecast.

Lower Chinese sales

The French company's first quarter turnover grew 3 % to 2.22 billion euro, which is well above analysts' expectations at a 1.1 % turnover increase. Turnover even grew 6 % in the Americas, while Chinese numbers were not as positive: turnover dropped 9 % in the first quarter. The entire Chinese market experienced a 4 to 5 % slump overall.

 

Pernod Ricard expects the full-year (which ends in June 2016) turnover to grow 1 to 3 %. Last year's turnover grew 2 % and analysts expect a 2.8 % turnover increase for this fiscal year.

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