Pernod Ricard 1Q Sales Spurred by Asia Growth

By Joshua Kirby

Pernod Ricard SA said Thursday that good performance in the Chinese and Indian markets drove sales higher in its first quarter, and that it is confident of further growth ahead.

The French drinks group's sales came to 3.31 billion euros ($3.24 billion) in the July-September period, 11% organically higher than the EUR2.72 billion a year earlier. Analysts had expected quarterly sales of EUR3.14 billion, according to a FactSet-compiled poll of six estimates.

In the distiller's largest region--encompassing Asia and other areas outside the Americas and Europe--growth was fastest at 20%, reaching nearly EUR1.5 billion thanks to strong sales in China and India, Pernod Ricard said. In Europe, a strong tourist season supported performance, while pricing also boosted the top line, notably in the U.S., the company said.

Looking ahead, Chief Executive Alexandre Ricard said the company is confident of maintaining dynamic growth for the rest of the fiscal year. The company didn't set out any numerical guidance for the year.

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

(END) Dow Jones Newswires

10-20-22 0207ET