Spirits producer Pernod Ricard raises profit target

24-Jun-2021 - France

The business of the French whisky and vodka producer Pernod Ricard is recovering faster than expected. For the 2020/21 financial year, the company therefore now expects an increase in adjusted operating profit from its own resources - i.e. excluding negative exchange rate effects - of 16 percent, as Pernod Ricard announced in Paris on Wednesday. Lower costs are also expected to contribute to this. Previously, the company, with brands such as Ramazzotti, Absolut Vodka and Malibu, had expected growth of 10 percent.

For the rest of the year until the end of June, the French expect the increase in sales to accelerate further. In the process, over-the-counter retail is expected to gradually pick up thanks to the opening of stores. However, the liquor company expects travel retail to remain subdued due to restrictions. (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1171639/spirits-producer-pernod-ricard-raises-profit-target.html