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October 17, 2019

“Pernod Ricard is well-placed in the US. As much as the company’s growth rate looks unimpressive, the first three months of Pernod's fiscal-2020 should not be looked at in isolation.

"On an organic basis, sales in Asia were flat. However, this was against a first quarter a year ago when one-off technical impacts drove a 10% jump in the region.

"What is of greater relevance to today's numbers is the 2% lift in sales from the Americas, with the US rising by 6%. For the full 12 months of fiscal-2019, the region on the whole was down by 4%. The coming months will show if Pernod has got the US spirits market right, but the first quarter bodes well."