BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Pernod Ricard SA (PDRDF.PK, PDRDY.PK, PRN.L) reported first quarter sales of 2.24 billion euros, an organic decline of 6%. Reported sales declined 10% due to unfavourable FX impacts, mainly from US Dollar and emerging market currencies.
Alexandre Ricard, CEO, said: 'Our first quarter is encouraging. Sales were still in decline, but the business has recovered significantly from fourth quarter, thanks to the partial reopening of the On-trade and the strong resilience of our brands in the Off-trade.'
Pernod Ricard expects second quarter to still be strongly impacted by Covid-19, but sales to return to growth in second half.
Copyright RTT News/dpa-AFX