Scotch growth helps Pernod Ricard’s profits soar

Pernod Ricard has announced a 14 per cent rise in profits for the first half of the financial year (July-Dec 2010). The company attributed the growth to strong performance in emerging markets and a “very favourable” foreign exchange effect during the six months to 31 December.

As a result, Pernod Ricard has raised its full-year guidance on organic profit growth to “a level close to” 7 per cent. Although shares in the company actually traded lower in Paris this week as investors took into account the group’s significant increase in advertising spending.

Their “Top 14” brands (the company’s highest-value spirit and champagne brands) accounted for 59 per cent of first-half sales, which reached €4.28bn (£3.6bn). Eight brands posted double-digit organic sales growth, including the whiskies Royal Salute (+31 per cent), Ballantine’s (+13 per cent), Glenlivet (+12 per cent) and Chivas Regal (+11 per cent).

You can find the full press release and all the figures on the Pernod Ricard website.

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