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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pernod Ricard | EU:RI | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.35 | 0.23% | 149.35 | 149.00 | 149.65 | 150.15 | 148.70 | 148.85 | 480,832 | 16:40:00 |
By Adria Calatayud
Pernod Ricard SA said Thursday that it expects strong sales in the fourth quarter of fiscal 2023 after a decline in the third, and forecast organic growth in full-year profit from recurring operations.
The French drinks group said it expects organic growth of more than 10% in profit from recurring operations, aided by some expansion in its organic operating margin, for the year to June.
The maker of Absolut vodka and Martell cognac also forecasts strong fourth-quarter sales helped by a favorable comparison basis, an expected demand recovery in China and price increases in the U.S. The company maintained its guidance for advertising-and-promotional spending at 16% of net sales.
For the third quarter to the end of March, Pernod Ricard said sales totaled 2.39 billion euros ($2.64 billion), down from EUR2.45 billion in the year-earlier period.
Sales fell 2.2% organically, hurt in part by a strong year-earlier performance in the U.S.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 27, 2023 02:08 ET (06:08 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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