© Reuters. FILE PHOTO: A logo is seen on a bottle of the Ricard aniseed-flavoured beverage displayed during French drinks maker Pernod Ricard news conference to announce the company annual results in Paris, France, August 29, 2018. REUTERS/Christian Hartmann

By Dominique Vidalon

PARIS (Reuters) -French spirits maker Pernod Ricard (PA:) said on Wednesday it was confident its sales momentum would continue this year after a rebound in demand in China and the United States helped it to deliver stronger-than expected annual profits.

The owner of Mumm champagne, Absolut vodka and Martell cognac, did not provide a specific operating profit guidance for full year 2021/22 that started on July 1, but said its first quarter would be “very dynamic”.

With recurring cash flow at a historical high of 1.745 billion euros at end-June, the group also said it would resume its buyback programme of 500 million euros for FY 2021/222.

“We are giving a qualitative guidance for the full year, good sales momentum supported by on-trade recovery, resilient off-trade, dynamism in e-commerce but the travel retail business will improve only gradually amid ongoing health restrictions,” Finance Chief Helene de Tissot told Reuters

Pernod Ricard remained “very cautious” concerning travel retail prospects over the next 10 months, she added.

($1 = 0.8477 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here