Pernod Ricard: raises target for 2020-21 PRO

(CercleFinance.com) - Pernod Ricard announced that it now expects organic growth in 2020-21 profit from recurring operations (PRO) to be around 16% - compared to its previous organic growth target of around 10% presented on 22 April.


The spirits group highlights a stronger-than-expected recovery, with the Off-trade remaining resilient while demand in On-trade is accelerating, and dynamic resource management, with an A&P investment ratio of around 16%.

As a result, like-for-like operating profit for 2020-21 should be broadly in line with that of 2018-19, "albeit with Sales still impacted by restrictions in the On-trade and Travel Retail, and Structure costs not yet at their normative levels".


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