Pernod Ricard emerges from crisis “stronger” with 9.7% bounce in revenue

Beverage giant Pernod Ricard has posted a 9.7 per cent boost to sales totalling €8.8bn (£7.5bn) in its full 2021 financial year.

The jump in sales is reflected in the US which saw a 16 per cent rise, and China which saw a 14 per cent rise.

Advertising and promotion were highlighted as a key “dynamic growth” driver, with investment in the segment maintained at 16 per cent of sales, as the company focused on “must-win brands and markets while stimulating innovation”.

Sales of premium brands was “strong” as the company hails its strategy in premiumisation, leading it to market share gains in most key markets.

Pernod Ricard highlighted its business transformation momentum continues to be strong, as it puts “significant investments behind priority brands and markets”.

In Q4 alone, the sales grew 57 per cent year-on-year to €1.8bn (£1.6bn) due to the hospitality sector reopening in the US, Europe as Covid restrictions were relaxed.

Pernod Ricard chairman and CEO Alexandre Ricard says the company expects the “good Sales momentum” to continue into the full year 2022.

“I would like to take this opportunity to praise the exceptional commitment of our teams during this difficult time and express my support to those who have been or continue to be impacted by this pandemic,” Ricard commented.

“We will stay the strategic course, accelerating our digital transformation and our ambitious Sustainability & Responsibility roadmap. Thanks to our solid fundamentals, our teams and our brand portfolio, we are emerging from this crisis stronger.”