Pernod Off to Slow Start in F25 But Still Expects Gradual Improvement

Dear Client:   Pernod Ricard had a "slow start" to fiscal 2025 with organic global net sales down 5.9% and global volumes "stable," noted cfo Helene de Tissot on today's early morning earnings call. "As we have previously flagged, the slow start to the year was expected, notably within the US and in China, together which, when combined account for circa 50% of our net sales footprint, and with both markets facing challenges, though for quite different reasons," said Helene.