Jameson Drives Growth At Pernod Ricard
Published on Aug 29 2013 12:13 PM in General Industry
French drinks giant Pernod Ricard has hit its full-year profits target, helped by an “outstanding performance” from its Jameson whiskey brand.
Owners of Irish Distillers, Pernod Ricard's top 14 brands grew by 5% overall, with strong growth from Jameson whiskey - up 17% - and Martell, which increased by 15%. Absolut grew by 5%.
Malibu sales declined, however, and despite record growth from whisky brand Glenlivet - up 22% - the group recorded an overall slowdown in Scotch whisky.
Total full-year sales hit €8.58 billion, with organic profits up 6% to €2.32 billion. Mature markets were described as 'stable' by the drinks company, while emerging markets recorded double-digit growth, despite a slowdown in China.
“Despite a less buoyant environment than that of last year, we achieved our guidance. Our global and balanced exposure to emerging and mature markets will allow us to seize all opportunities. We therefore remain confident in our ability to pursue our growth", Pierre Pringuet, vice chairman and chief executive of Pernod Ricard said.
Subsidiary Irish Distillers is currently planning a multi-million-euro redevelopment and expansion of its Dublin bottling facility to keep pace with growing demand worldwide for Jameson.