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Pernod Ricard's sales keep rising as the aquisition of Absolut is completed

Par Vitisphere Le 05 août 2008
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Pernod Ricard's sales keep rising as the aquisition of Absolut is completed
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The French wine and spirits company, Pernod Ricard, has completed the acquisition of the Swedish group, Vin&Sprit, owner of the Absolut Vodka premium brand, after receiving the green light from the European Commission on July 17th.

Pernod-Ricard also announced its 2007-2008 sales results : 6 589 M€, + 2,3 % compared to the previous financial year. Analysts call the organic growth of 2007-2008 "outstanding", but the organic + 8.7 % has been impaired by a strong foreign exchange impact (-4.6 % ) due to the strength of the euro. The main drivers of growth have been the premium spirits brands (+14%) and the new markets (+22%). Overall, spirits sales rose by 9% in value. Wine sales progressed by 6 % : an achievement, when compared to 2006-2007, where they only rose by 1 %.
 

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