Pernod Ricard: 2023/24 annual results slightly down

Pernod Ricard has announced full-year results for the 2023/24 financial year, with sales broadly stable at -1% organically and -4% as reported. Current operating profit (COI) increased by +1.5% organically, but declined by -7% as reported, impacted by exchange rate fluctuations.

The company highlights a gradual improvement in volumes in most markets in the second half, as well as rigorous cost control and price increases. Alexandre Ricard, Group CEO, attributes this performance to the agility and diversity of Pernod Ricard's brand portfolio.

By region, China and the United States saw significant declines, respectively -10% and -9% in organic terms. In contrast, notable growth was observed in India (+6%) and Latin America. In Europe, performance remained stable excluding Russia, with market share gains in several countries.

Despite a 14.5% decline in net current income, Group share, the company continues to invest in the desirability of its brands and expects a return to growth for 2024/25. A dividend of €4.70 per share is proposed, subject to shareholder approval in November 2024.