| Sales means mine’s a double-figure increase
BY NIAMH HENNESSY
SALES of Jameson, Ireland’s best-selling whiskey, grew by over
12 per cent during the last nine months.
The whiskey, which is distilled in Cork, helped owners Pernod Ricard record
strong growth in Europe.
Pernod Ricard, who acquired Jameson in 1998, said third-quarter sales
advanced 6.8 per cent on increased purchases of Martell cognac in Asia
and Ballantine’s whiskey in Europe.
Revenue climbed to e1.39billion in the three months through March from
e1.30billion a year earlier, the Paris-based company said.
Nine-month sales gained 7.2 per cent to e4.9billion.
Pernod has started worldwide promotions to revive brands such as Beefeater
gin and Malibu rum that were acquired two years ago with the e9.5billion
purchase of competitor Allied Domecq.
Those spirits drove up sales in Europe, Latin America and Asia, where
the late timing of the Chinese New Year boosted liquor consumption.
The company’s wine division returned to growth, with revenue climbing
2 per cent at the Jacob’s Creek brand after years of decline.
Managing director Pierre Pringuet said: “Spirits performance remains
excellent. The good news of the quarter is that sales of wine returned
to positive growth.”
British wine sales showed signs of recovery as competition among Australian
vintages eased, the company said.
Pernod has said it’s interested in bidding for Vin & Sprit,
the state-owned Swedish maker of Absolut vodka, as have competitors including
Fortune Brands and Bacardi. The French company is also in talks to acquire
the Stolichnaya brand from Russia’s SPI Group.
Chief financial officer Emmanuel Babeau said: “Ideally, we would
like to own both vodka brands. They are both great brands that don’t
interfere with each other. Absolut has a very fashion-oriented image,
while Stolichnaya is very solid and traditional.”
A purchase of Vin & Sprit, which has collaborated with artists and
designers including Andy Warhol on advertisements for Absolut, would add
to Pernod’s US market share.
The country is among places where the French company distributes Stolichnaya,
a rival to Diageo’s Smirnoff and Bacardi’s Grey Goose. Chairman
and CEO Patrick Ricard said: “These very good results are in line
with our expectations and indicate favourable prospects for the second
half-year. We therefore confirm, guidance of around 20 per cent growth
in net profit from ordinary activities (Group Share), excluding foreign
exchange impact, for the full year.” |
