Pernod Ricard: raises earnings estimates
(CercleFinance.com) - Up by over 2% this morning, the Pernod Ricard share is one of the sharpest risers in the CAC 40, after the group increased its earnings forecasts for 2018/2019, and expected a continuation in margin improvements through to 2021.
The French spirits giant has ended H1 2018/2019 (from July to December)
with sales of 5.2 billion euros, or +5% in nominal terms. Interim
organic growth reached +7.8%, after +10.4% in Q1.
H1 current operating profit rose 10.6% in nominal terms and is 12.8% in
internal terms, to 1.65 billion euros, which has improved the
corresponding margin by 148 basis points. Finally, current net profit
rose 11% in nominal terms to 1.1 billion euros. Net profit, group share
fell by 11% to 1.02 billion euros, largely due to positive non-recurrent items seen a year earlier.
The group has raised its organic growth forecast for 2018/2019 current
operating profit from 5%-to-7% to 6%-to-8%. By 2021, Pernod Ricard
targets sales growth of 4% to 7% and around a 50 to 60 basis point
improvement in its operating margin.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The French spirits giant has ended H1 2018/2019 (from July to December)
with sales of 5.2 billion euros, or +5% in nominal terms. Interim
organic growth reached +7.8%, after +10.4% in Q1.
H1 current operating profit rose 10.6% in nominal terms and is 12.8% in
internal terms, to 1.65 billion euros, which has improved the
corresponding margin by 148 basis points. Finally, current net profit
rose 11% in nominal terms to 1.1 billion euros. Net profit, group share
fell by 11% to 1.02 billion euros, largely due to positive non-recurrent items seen a year earlier.
The group has raised its organic growth forecast for 2018/2019 current
operating profit from 5%-to-7% to 6%-to-8%. By 2021, Pernod Ricard
targets sales growth of 4% to 7% and around a 50 to 60 basis point
improvement in its operating margin.
Copyright (c) 2019 CercleFinance.com. All rights reserved.