Jameson whiskey sales grow for 24th year
Pernod Ricard reports earnings of €2.23 billion in the year to June
Pernod-Ricard’s earnings before interest, taxes and some one-time items totaled €2.23 billion in the year to June. Jameson whiskey is bottled at the Pernod-Ricard plant in Dublin. Photograph: Aidan Crawley/Bloomberg
Sales of Jameson whiskey grew in the 12 months to June for the 24th consecutive year, with a record 4.3 million cases sold.
Sales volumes increased 10.4 per cent while the value of the product rose by 16.6 per cent.
The brand performed particularly well in its biggest market, the US, where sales rose by 21 per cent. Double-digit growth was also recorded in Russia and South Africa, while sales were strong in Canada, Australia, the Czech Republic, France, the UK and Ukraine.
Jameson remains the top selling whiskey in Ireland. It is manufactured by Irish Distillers, which is owned by France’s largest distiller Pernod Ricard.
On-sales in licensed premises of Pernod Ricard products in Ireland, including Cork Dry Gin, Powers whiskey and Absolut vodka, fell by 5.3 per cent in the period.
Pernod Ricard said it expects global economic growth this fiscal year to be “generally comparable” to the previous 12 months after reporting annual profit that matched analyst estimates.
The maker of Absolut vodka anticipates “ongoing growth” in the US, even as it sees a slowdown in some emerging markets, the company said today in a statement.
Sales in countries including China slowed in the second half of its last fiscal year, it said. Distillers including Paris-based Pernod are suffering from a crackdown on extravagant spending in the country, stinting sales of products including cognac and whisky.
Earnings before interest, taxes and some one-time items totaled €2.23 billion in the year through June, Pernod said. Earnings on a so-called organic basis increased 6 per cent, matching Pernod’s forecast, and sales rose 4 per cent.
“Despite a less buoyant environment than that of last year, we achieved our guidance,” chief executive Pierre Pringuet said in the statement. The company “remains confident in our ability to pursue our growth.”
Pernod is among distillers seeking sales in emerging markets to offset tough trading across Europe following a recession that ended in the second quarter of this year.
The company said it anticipates some “initial signs” of improvement in western Europe.
Diageo Plc, the world’s biggest distiller, said in July that it saw some “soft spots” in emerging economies including Brazil and the Asia-Pacific region, and reported fiscal-year organic sales growth of 5 per cent.
Additional reporting: Bloomberg