Pernod CEO on coronavirus: ‘We don’t know how this will pan out’

Alexandre Ricard, CEO of Pernod Ricard, said it is too early to tell how coronavirus would impact the group, but warned it would hit its “biggest heavyweight brands in China”. Speaking during a briefing last week for Pernod Ricard’s H1 results, Ricard said: “There’s no doubt that the Covid-19 situation will have a negative impact on Chivas. Chivas and Martell are our two biggest heavyweight brands in China and travel retail, specifically.” “I don’t think…

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Brown-Forman delivers mid-single-digit growth in H1

Jack Daniel’s owner Brown-Forman has reported a net sales increase of 5% to US$1.8 billion in the first six months of its 2020 fiscal year, boosted by Tequila and premium Bourbons. In the company’s six month period ending 31 October, operating income increased 1% in the quarter to US$600 million. Brown-Forman also reported its net sales for the second quarter, which were up 9% to US$989m. Operating income for the period increased 6% to US$352m.…

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United Spirits H1 hit by ‘consumption slowdown’

Diageo-controlled Indian drinks group United Spirits saw its 2019 first-half net sales grow by 7%, but was impacted by “broad-based consumption slowdown”. For the six months to 30 September 2019, United Spirits’ sales reached Rs. 4.2 million crores (US$59.8m). Sales were impacted by general elections in the first quarter and “consumption slowdown coupled with liquidity challenges in certain markets and temporary supply chain disruption” in the firm’s bottled-in-origin Scotch portfolio during the second quarter. United…

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Rémy Cointreau H1 ‘slightly below expectations’

French drinks group Rémy Cointreau saw its sales dip 0.6% to €523.9 million (US$585m) for the first half of its fiscal year due to the termination of distribution deals for a number of partner brands. In the six-month period between April and September 2019, the House of Rémy Martin was up 5.6% to €379.6m (US$423.9m). The group said its Cognac was affected by a drop in tourism in Hong Kong and “slower than anticipated stock…

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Altia H1 sales reach €165m

Finnish drinks group Altia saw its sales grow to €165 million (US$184m) in the six months to June 2019, boosted by a 4.7% increase in Q2. The Larsen Cognac maker saw its sales grow by 2.7% in H1 2019, while sales for the three months to June 2019 reached €91.2m (US$101m). Altia CEO Pekka Tennilä said: “We are pleased to see reported net sales growing by 2.7% to €165 million during the first half of…

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