Pernod Ricard posts 13% rise in net profit for full financial year
31.08.2017,
13:39
The world’s second largest spirit producer French Pernod Ricard SA increased its net profit for the 2016/17 financial year (ended on June 30), saying the growth was helped by higher U.S. demand for whiskey, a return to sales growth in China and tight cost control, finmarket.ru reported citing a company’s press release.
YEREVAN, August 31. /ARKA/. The world’s second largest spirit producer French Pernod Ricard SA increased its net profit for the 2016/17 financial year (ended on June 30), saying the growth was helped by higher U.S. demand for whiskey, a return to sales growth in China and tight cost control, finmarket.ru reported citing a company’s press release.
According to the press release, net profit for the year to June 30 rose 13% to 1.39 billion euros ($1.65 billion) on group sales of EUR9.01 billion, up 4%. Profit from recurring operations rose 5% to EUR2.39 billion. Fourth quarter sales rose 5%, reflecting an increase of 6% in America, 5% in Asia and 2% in Europe.
The company also gave investors a 7% dividend rise and set a target for a rise of 3%-5% in profit from recurring operations for its 2018 fiscal year.
Founded in 1975, the Pernod Ricard Group owns Absolut vodka, Martell cognac and other famous brands. Pernod Ricard is also the owner of the Yerevan Brandy Factory (producing Ararat brandies) and the Georgian wine and alcohol company GWS (Tamada and Old Tbilisi). -0-
According to the press release, net profit for the year to June 30 rose 13% to 1.39 billion euros ($1.65 billion) on group sales of EUR9.01 billion, up 4%. Profit from recurring operations rose 5% to EUR2.39 billion. Fourth quarter sales rose 5%, reflecting an increase of 6% in America, 5% in Asia and 2% in Europe.
The company also gave investors a 7% dividend rise and set a target for a rise of 3%-5% in profit from recurring operations for its 2018 fiscal year.
Founded in 1975, the Pernod Ricard Group owns Absolut vodka, Martell cognac and other famous brands. Pernod Ricard is also the owner of the Yerevan Brandy Factory (producing Ararat brandies) and the Georgian wine and alcohol company GWS (Tamada and Old Tbilisi). -0-
