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Cape Town – Wine and spirits giant Pernod Ricard South Africa has announced strong interim results for the financial year ending June 2014.
Despite a tougher trading environment than 2013, strong results were delivered by the South African domestics market (excluding all sub-Saharan Africa exports).
The company showed full year organic volume growth of 5.1%, with overall volume growth of 2% impacted by the delisting of non-strategic brands.
Full year sales totalled €82.2m (excluding duty and taxes). This represents an increase of 12.4% resulting from organic growth of 13.4%.
There was continued dynamic growth of the Top 14 brands, which grew 13.1% in volume and 20.4% in value, driven by a favourable price and product mix.
Profit from recurring operations delivered €4.9m with an increase of 47%. This is as a result of a continued focus on the premiumisation strategy.
Pernod Ricard SA’s premium brand portfolio targets the growing emerging middle class consumer. Key profit drivers within the portfolio were Jameson, Ballantines, Absolut Vodka, Chivas Regal and The Glenlivet, all delivering double digit value instead of volume growth.
The Scotch Whiskey portfolio delivered a combined volume growth of 27.8% with full year sales totalling €19.630m, representing 47% of the full year sales growth in the 2014 financial year.
“We are extremely pleased with the excellent business and financial performance that we achieved in the 2014 financial year, despite the challenging market conditions that we had to face during the second half of our financial year," said Brigitte Staley, finance director of Pernod Ricard SA.
- Fin24
Despite a tougher trading environment than 2013, strong results were delivered by the South African domestics market (excluding all sub-Saharan Africa exports).
The company showed full year organic volume growth of 5.1%, with overall volume growth of 2% impacted by the delisting of non-strategic brands.
Full year sales totalled €82.2m (excluding duty and taxes). This represents an increase of 12.4% resulting from organic growth of 13.4%.
There was continued dynamic growth of the Top 14 brands, which grew 13.1% in volume and 20.4% in value, driven by a favourable price and product mix.
Profit from recurring operations delivered €4.9m with an increase of 47%. This is as a result of a continued focus on the premiumisation strategy.
Pernod Ricard SA’s premium brand portfolio targets the growing emerging middle class consumer. Key profit drivers within the portfolio were Jameson, Ballantines, Absolut Vodka, Chivas Regal and The Glenlivet, all delivering double digit value instead of volume growth.
The Scotch Whiskey portfolio delivered a combined volume growth of 27.8% with full year sales totalling €19.630m, representing 47% of the full year sales growth in the 2014 financial year.
“We are extremely pleased with the excellent business and financial performance that we achieved in the 2014 financial year, despite the challenging market conditions that we had to face during the second half of our financial year," said Brigitte Staley, finance director of Pernod Ricard SA.
- Fin24
