Pernod Ricard: Q1 down 2% at E3,042m
(CercleFinance.com) - Q1 2023/24 sales totaled E3,042m, down -2% in organic terms and -8% as reported, with an unfavorable currency effect partially offset by a positive consolidation scope effect.
The price/mix effect was +7%, reflecting price increases over the past year in all markets and brands.
The company confirms its medium-term targets, including organic sales growth at the top end of a range of +4% to +7%, along with an expansion in its operating margin on ordinary businesses of +50bp to +60bp.
For FY 2023/24, it anticipates diversified sales growth, with a favourable outlook for the US and China, and strong growth in Travel Retail and India.
Finally, it is targeting significant CAPEX of around E800m to E1bn, and investments in strategic inventories that are similar to those of the previous year.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The price/mix effect was +7%, reflecting price increases over the past year in all markets and brands.
The company confirms its medium-term targets, including organic sales growth at the top end of a range of +4% to +7%, along with an expansion in its operating margin on ordinary businesses of +50bp to +60bp.
For FY 2023/24, it anticipates diversified sales growth, with a favourable outlook for the US and China, and strong growth in Travel Retail and India.
Finally, it is targeting significant CAPEX of around E800m to E1bn, and investments in strategic inventories that are similar to those of the previous year.
Copyright (c) 2023 CercleFinance.com. All rights reserved.