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Pernod Ricard confident about Europe, Mid-East, Africa and Latam business

11/22/2022 | 04:20am EST
FILE PHOTO: Bottles of single malt scotch whisky The Glenlivet, part of the Pernod Ricard group, are pictured in a shop near Lausanne

PARIS (Reuters) - French spirits group Pernod Ricard is confident that its business in Europe, the Middle East, Africa and Latin America (EMEA/LATAM) will continue to deliver above market sales growth while protecting its margins in the 2023 fiscal year, EMEA-LATAM CEO Gilles Bogaert said on Tuesday.

Bogaert was speaking in a video clip ahead of an investor presentation later in the day.

A key focus for the region, which accounts for about 30% of group sales, entailed growing revenue to protect margins, continuing to increase prices, "agile" resource allocation and further digital transformation, he said.

Last month, Pernod Ricard, the world's second-biggest spirits group behind Diageo, said it was confident group sales growth would remain dynamic through the fiscal year to June 30 after it delivered forecast-beating sales in the first quarter helped by price increases as consumers trade up to its premium spirits.

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta, Kirsten Donovan)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO PLC 1.66% 3468.5 Delayed Quote.-6.56%
DOW JONES AFRICA TITANS 50 INDEX 0.00% 481.91 Real-time Quote.7.54%
PERNOD RICARD 1.56% 189 Real-time Quote.1.28%
S&P AFRICA 40 INDEX -1.10% 160.64 Real-time Quote.8.36%
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