Pernod Ricard Eyes Further Momentum as Americas Boost Fiscal Year 2021 Sales
01 September 2021 - 8:18AM
Dow Jones News
By Joshua Kirby
Pernod Ricard said Wednesday that it expects continued sales
momentum into the new fiscal year, and set out a dividend and
buyback resumption as sales and earnings increased in fiscal 2021,
driven by sales in the Americas.
The French drinks maker made a profit from recurring operations
of 2.42 billion euros ($2.86 billion) in the 12 months to end-June,
some 18% higher organically than the same period the previous year.
The company said net income came to EUR1.31 billion, up strongly on
year but still below fiscal 2019, the last full year before the
global pandemic.
Sales totaled EUR8.82 billion, up 9.7% organically on year but
lagging behind the EUR9.18 billion booked in fiscal 2019. The
Americas region grew most strongly at 14%, helping offset declining
travel retail, the company said, adding that reported sales and
earnings were hit by unfavorable currency effects.
Analysts had expected sales of EUR8.76 billion, according to a
consensus of six estimates provided by FactSet.
Momentum should continue into the first quarter of fiscal 2022
and beyond, Pernod boss Alexandre Ricard said. The company proposed
a dividend of EUR3.12 a share, returning to fiscal 2019's level,
and said a remaining EUR500 million share buyback would resume.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
September 01, 2021 02:03 ET (06:03 GMT)
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