Pernod Ricard reports increased sales and earnings for fiscal 2023, attributing growth to pricing measures and strong performance in spirits. The company reiterates medium-term targets.
Pernod Ricard, the French drinks group, has announced that its sales and earnings have increased during fiscal 2023. The company attributes this growth to pricing measures and a strong performance in the spirits sector. Pernod Ricard has also reiterated its targets for the medium-term.
Organic sales for the year ending June 30 reached €12.14 billion ($13.26 billion), representing a growth rate of 13% on a reported basis. Net profit for the year rose from €2.03 billion in fiscal 2022 to €2.28 billion.
Analysts' expectations were slightly lower, with predicted sales of €12.16 billion and net profit of €2.4 billion, according to a FactSet-compiled poll.
In the fourth quarter, sales increased from €2.30 billion to €2.63 billion compared to the previous year.
Pernod Ricard has experienced sales growth in all regions, largely due to successful pricing execution. The company has reported robust growth across all categories of spirits.
The company remains confident in its medium-term financial target for fiscal years 2023-2025. Pernod Ricard aims to achieve net sales growth between 4% and 7%, with an increase of 50 to 60 basis points in operating margin.
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