Pernod Ricard Returns to Nine-Month Organic Sales Growth; Expects Fiscal Year 2021 Profit Rise

   By Joshua Kirby 
 

Pernod Ricard SA said Thursday that sales increased in the third quarter of its fiscal year, taking the French drinks maker back to organic growth for the nine-month period.

Sales came to 1.96 billion euros ($2.36 billion) in the three months to March 31, up 19% at constant currency compared with the same period a year earlier. The result takes the nine-month figure to EUR6.91 billion, up 1.7% organically after an on-year decline in the first half, Pernod said.

Analysts had expected third-quarter sales at EUR1.84 billion, according to a FactSet-compiled consensus of four estimates.

Pernod expects sales to grow further in the year's final quarter, leading to full-year organic growth in profit from recurring operations of around 10%, Chairman and Chief Executive Alexandre Ricard said.

Pernod will pay an interim dividend of EUR1.33 a share in July, with the full dividend subject to the AGM decision in November.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

April 22, 2021 02:01 ET (06:01 GMT)

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