Pernod Ricard Q1 organic sales growth up 11.6 pct; confirms FY guidance UPDATE

Pernod Ricard Q1 organic sales growth up 11.6 pct; confirms FY guidance UPDATE

	Published : Tue, 30 Oct 2007 08:02 By : Agencies Print this Story

(Adds detail on regions, brands)

PARIS (Thomson Financial) - Pernod Ricard said organic sales growth accelerated to 11.6 pct in the first quarter, helped by good growth in all regions and undemanding year-earlier comparisons.

Total sales reached 1.557 bln eur, up 6.9 pct from a year earlier.

The figure was above estimates by brokers, who predicted quarterly sales of 1.494-1.528 bln eur. The organic growth rate also exceeded analysts' forecast range of 6-8.3 pct.

Brokers had expected strong growth after the company posted moderate organic growth of 5.6 pct in the year-earlier period, well below the 9.1 pct recorded for the full year 2006/07.

By region, Asia and the rest of the world posted first-quarter sales of 498 mln eur, with organic growth of 13 pct.

Pernod cited 30 pct organic growth in China and have ry strong growth' in India. In Thailand, which was a drag on last year's quarter, the company said the sales decline slowed.

In the Americas, sales were 393 mln eur, with organic growth of 7.1 pct in North America and 34.1 pct in central and South America.

In Europe, sales reached 508 mln eur, with organic growth of 12 pct. Pernod underlined 16 pct growth for its 15 strategic brands, as well as favourable year-earlier comparisons.

In France, sales were 157 mln eur, with organic growth of 5 pct. Sales were supported by whisky promotions, Pernod said.

For the full year, Pernod Ricard confirmed its full year guidance for 'strong growth' in sales and operating profit from ordinary activities, based on current market conditions and on a like-for-like basis.

The company said it will give a guidance figure for organic growth in operating profit from ordinary activities at its annual meeting on Nov 7.

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