Pernod’s Results “Flatterin”

Dear Client:Pernod’s new chief Pierre Pringuet called the company’s first half results (July 1-December 31) “flattering” today once it was revealed that Pernod outperformed analysts’ estimates. The company’s strategy of implementing price increases helped grow its 14 strategic brands, which grew by 1% in volume and 6% in value overall. Malibu, Kahlua and Perrier Jouët, however, were adversely affected by market conditions and inventory reductions in the US. Overall, sales declined -2% in the U.S. due to a “more difficult