JAMESON IRISH Whiskey was one of the few premium brands that delivered growth for its multinational owner, Pernod Ricard, during the 12 months to June 30th.
The French-based drinks group said yesterday that sales of Jameson Irish Whiskey grew 8 per cent during the period, with volumes increasing to 24.3 million litres from 23.4 million litres, a 2 per cent jump.
The company said this translated into organic sales growth of 8 per cent, although it did not give a financial breakdown of these figures. Jameson is part of the Irish Distillers Group (IDG), which also sells Bushmills, Powers and Paddy.
Pernod Ricard is IDG’s parent and selected the whiskey to become one of its “strategic brands” a number of years ago.
This means the company markets it internationally, along with scotches Chivas Regal, Ballantine’s and Glenlivet; Martell brandy; Havana Club; Perrier-Jouët champagne; and a range of other spirits.
The company reported that overall sales of its 14 strategic brands was down 4 per cent in the 12 months to June 30th, but added that five of them increased sales during the period. These included Jameson, Glenlivet and Martell.
A “difficult” US champagne market left Perrier-Jouët sales trailing last year’s by 11 per cent.
Pernod is the world’s second-biggest distiller. It said its net income climbed 13 per cent to €945 million in the 12-month period, beating the €897 million average estimate of 14 analysts compiled by Bloomberg.
Evolution’s Simon Hales said the company’s lower tax rate was largely responsible for the better-than-expected profit.
Earnings before interest and tax rose 21 per cent to €1.85 billion. Pernod also said it would distribute a dividend of 50 cent a share, and award one free share for every 50 held.
Revenue increased 9.3 per cent to €7.2 billion, largely because of its purchase during the year of the Absolut vodka distiller, Vin Spirit, for $7.4 billion (€5.2 billion).
Excluding acquisitions and currency fluctuations, sales fell 0.4 per cent.
The company's main customers, liquor wholesalers, are now "practically finished" cutting their stockpiles, Pernod chief executive Pierre Pringuet said. – (Additional reporting: Bloomberg)
