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Pernod Ricard records “historic” results

Financial results unveiled by family-owned drinks firm Pernod Ricard have been described as "historic" by the group's chairman and CEO, Patrick Ricard (pictured), a second-generation member of the France-based family.

Consolidated net sales for the period 1st July–31 December 2007 increased by 5.9% to €3.7 million. The company identified the growth as resulting from outstanding organic growth, the loss in value of the US dollar, and its disposal of the Rich & Rare business.

"I could describe this first half-year as historic, given the outstanding sales dynamism," said Ricard. "This reflects the relevance of the Pernod Ricard model, the performance of our premium brands, and our very strong geographic presence in emerging markets."

Globally, Pernod Ricard is the number one company in the ultra premium spirits market, and owns Martell cognac, The Glenlivet whiskey and Stolichnaya vodka brands.

As a consequence of these figures, Ricard said he and the rest of the management team were revising their growth for the full financial year upwards. "We now aim for 2007/08 growth in 'operating profit from ordinary activities', on a like-for-like basis, of more than 12%, compared to more than 10% previously," he said.

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