PARIS (Reuters) – The wine and spirits group Pernod Ricard on Thursday reported third-quarter sales below expectations and is aiming for less marked growth in its current operating profit (COI) for the year. , with demand normalizing after the pandemic period.
The turnover of the owner of cognac Martell, champagne Mumm or vodka Absolut reached 2.39 billion euros over the quarter, down 2% organically.
According to a consensus quoted by analysts, the latter were stabilizing on internal growth of 0.5% over the period.
The group has also announced that it is aiming for 10% organic growth in current operating income for its 2022-2023 financial year, as well as an increase in the operating margin.
By comparison, Pernod Ricard posted organic trading profit growth of 19% in its previous fiscal year.
However, the company anticipates a rebound in sales in the fourth quarter, due to a favorable basis for comparison, as well as healthy inventory levels at the end of the fiscal year.
“Despite a global environment that remains volatile and markets that normalize, we are confident in our ability to deliver a strong performance over the year, with a very strong expected rebound in sales in the fourth quarter. “, said Alexandre Ricard, CEO of the group, quoted in a press release.
(Written by Kate Entringer, edited by Matthieu Protard)
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