Pernod Ricard Backs Midterm Targets After Fiscal Year 2023 Sales Rose on Pricing
31 August 2023 - 4:29PM
Dow Jones News
By Maitane Sardon
Pernod Ricard said sales and earnings grew in fiscal 2023,
citing pricing measures and strong growth in spirits, and backed
its targets for the medium-term.
The French drinks group said Thursday that organic sales for the
year ended June 30 grew 13% on a reported basis to 12.14 billion
euros ($13.26 billion), while net profit for the year rose to
EUR2.28 billion from EUR2.03 billion in fiscal 2022.
Analysts had expected sales of EUR12.16 billion and net profit
of EUR2.4 billion, according to a FactSet-compiled poll.
For the fourth quarter, sales rose to EUR2.63 billion from
EUR2.30 billion a year earlier.
The company said sales in all regions increased thanks to
pricing execution, with all spirits categories delivering strong
growth.
Looking ahead, the company backed its fiscal 2023-25 medium-term
financial target, including reaching the upper end of between 4%
and 7% of net sales growth and a 50 to 60-basis-point increase in
operating margin.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
August 31, 2023 02:14 ET (06:14 GMT)
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