The growth motors of the Group remain unchanged:
• Premiumisation and Innovation
• Top 14 and Indian whiskies
• Emerging markets and the United States
Pierre Pringuet, Chief Executive Officer and Vice President of the Board of Pernod Ricard, comments:
Scotch whiskies in HY1(high comparatives) “The good performance achieved this semester confirms the soundness of our business model: a comprehensive portfolio of first-class international and local brands, a premiumisation strategy enhanced by a strong innovation policy, and global exposure allowing us to capture all growth relays. We are confident in continuing our growth mid-term, and we confirm our guidance of organic growth in profit from recurring operations close to +6% for the full financial year 2012/13.”
Sales Analysis by Brand
The Top 14 grew +4%(2) in value. Excluding technical effects(1), growth was +7%(2), with price/mix of +8%(2).
Martell (+23%(2)) and Jameson (+13%(2)) continued to report an excellent performance.
White spirits posted a strong performance:
· Absolut continued its recovery in the US and its strong development in emerging markets
· Havana Club recorded an improved trend, driven by Europe (Germany in particular)
· Beefeater experienced good growth, especially in the US, Spain and Russia
Scotch whiskies remained virtually stable(2) compared to high comparatives (HY1 2011/12 growth was +12%(2)):
· The Glenlivet posted very favourable price/mix and outstanding growth
· but slower growth was noted in Asia (conjunctural in China, structural in Korea) and Spain…
· … and a number of unfavourable technical effects (significant Duty Free shipments and French pre-buying in HY1 2011/12, etc.)
The decline(2) of Ricard due to lower consumption in France (excise duty hike), was significantly exacerbated by technical effects (pre-buying in HY1 2011/12, promotional phasing).
Champagnes posted a contrasted performance:
· strong performance of Perrier-Jouët (Americas, Asia and France)
· decline of Mumm (primarily in Western Europe)
For more information see Press Release.
The Absolut Company has the worldwide responsibility for the production, innovation and strategic marketing of ABSOLUT VODKA, Malibu, Kahlúa, Wyborowa, Luksusowa and Frïs. ABSOLUT VODKA is the world’s fourth largest premium spirits brand. Every bottle of ABSOLUT VODKA is produced in Åhus in southern Sweden. MALIBU is the number one coconut-flavoured rum in the world, sold in more than 150 countries. KAHLÚA coffee liqueur is the world leader in its category. As of July 2008, The Absolut Company is a company within the Pernod Ricard group, which holds one of the most prestigious brand portfolios in the sector. The head office is located in Stockholm, Sweden.