|Bid||94.30 x 4000|
|Ask||96.51 x 2300|
|Day's range||125.90 - 128.30|
|52-week range||95.73 - 128.30|
|PE ratio (TTM)||26.89|
|Forward Dividend & Yield||2.15 (1.58%)|
|1y target est||N/A|
European shares fell across the board on Thursday as Spain's political showdown with Catalonia deepened, and a batch of third-quarter results brought some disappointments for investors. The pan-European ...
Pernod Ricard posted a stronger than expected jump in first-quarter underlying sales, helped by accelerating Chinese demand for its high-margin Martell cognac and its Chivas whisky. Demand remained robust in the French group's main U.S. market, where sales of Jameson Irish whiskey continued to grow at a double-digit rate while travel retail sales gathered pace, lifting its shares to record highs.
The trend, fueled by a stagnant economy that is strangling spending, has led to the first increase in brandy sales for more than a decade, and falling sales of pricier whisky. This is an unexpected reversal in a country that multinationals Pernod Ricard and Diageo targeted as a lucrative growth market for their whisky brands, and where they had enjoyed years of surging sales among an emerging middle class. Pernod Ricard sells more Jameson in South Africa than anywhere else apart from the United States.
The trend, fuelled by a stagnant economy that is strangling spending, has led to the first increase in brandy sales for more than a decade, and falling sales of pricier whisky. This is an unexpected reversal in a country that multinationals Pernod Ricard (TLO: RI-U.TI - news) and Diageo (Euronext: DGE.NX - news) targeted as a lucrative growth market for their whisky brands, and where they had enjoyed years of surging sales among an emerging middle class.
Diageo (LSE: DGE.L - news) , the maker of Johnnie Walker whisky and Smirnoff vodka, forecast stronger sales and profit growth in the second half of its financial year after a first half affected by negative factors in China and India and higher spending. The world's biggest spirits maker said earlier on Wednesday that its first-half sales growth would be hurt both by the Chinese New Year falling later than in 2017 and a ban on selling alcohol near Indian highways. Diageo gave the warning in a trading update ahead of its annual general meeting in London on Wednesday, sending its shares down 2 percent and making them the weakest performer on the FTSE 100 Index.
Britain's Diageo (LSE: DGE.L - news) , the maker of Johnnie Walker whisky and Smirnoff vodka, said it expects its organic first-half sales growth to be impacted by the timing of Chinese New Year and a ban on selling alcohol along highways in India. India's top court imposed a ban on liquor outlets within 500 metres of national and state highways in April, a move that could impact revenue for liquor makers such as Diageo and Pernod Ricard.
Europe's shares extended their relief bounce on Thursday but were unlikely to avoid a third straight month of losses as they entered the last trading day of an unusually turbulent August, and a profit warning from Carrefour (LSE: 0NPH.L - news) sank the retail sector. Carrefour shares dropped 12.8 percent to their lowest level in nearly five years after the French supermarket chain warned 2017 profit could fall by 12 percent and cut its sales growth target. It reported weaker than expected first-half earnings as intense competition in the retail sector weighed on margins.
Diageo Plc has agreed to buy George Clooney's high-end tequila brand Casamigos for up to $1 billion, as the world's largest spirits maker seeks to lift its presence in a high-growth market. Diageo said late on Wednesday it would pay $700 million initially for the company, co-founded by the American actor, with potential payment of a further $300 million linked to performance over 10 years. The deal comes two weeks after Pernod Ricard (TLO: RI-U.TI - news) took a stake in mezcal maker Del Maguey, and highlights the opportunity companies see in Mexico's native spirits.
Danone and its Dubai-based private equity partner Abraj will together invest $25 million to expand production capacity at the Fan Milk dairy business in Ghana, the French food group said on Tuesday. Attracted ...
British consumer goods maker Reckitt Benckiser (Xetra: A0M1W6 - news) failed to grow its underlying sales in the first three months of the year, blaming fallout from a South Korean safety scandal and a flop with a new Scholl product after figures fell short of estimates. Analysts had expected the first quarter to be weak across the consumer goods sector, due to economic uncertainties and the timing of Easter. The disappointing sales will however increase the focus on dealmaking which has seen Reckitt concentrate more on consumer health and flag a possible sale of its small food business.
Pernod Ricard (TLO: RI-U.TI - news) 's third quarter sales beat forecasts on Thursday, lifting its shares, but the French spirits group cautioned that a ban on alcohol sales near Indian highways would slow growth in its second-largest market. The owner of Mumm champagne and Absolut vodka said it expected underlying operating profit growth of between 2 and 4 percent in the full year to June 30. India, which accounts for about 10 percent of group revenue, has been a key growth area, driven by local whisky brands such as Blender's Pride and Royal Stag.
Pernod Ricard (TLO: RI-U.TI - news) is raising the prices of its spirits and wines in Britain to protect margins against a slide in the pound stemming from the country's vote to leave the European Union. The owner of Absolut vodka, Martell cognac and Mumm champagne told its British trading partners this month and made the announcement as Prime Minister Theresa May filed Britain's formal Brexit divorce papers on Wednesday. "Brexit is a reality, especially today.
Pernod Ricard (TLO: RI-U.TI - news) raised the prices of its spirits in Britain in March to protect margins against a slide in the pound stemming from the country's vote to leave the European Union, according to company slides released ahead of an analyst call. Pernod, the world's second-biggest spirits group behind Britain's Diageo (LSE: DGE.L - news) , did not detail the scope of the price hikes. In that context, Pernod Ricard increased prices in March," the slides said.
Pernod Ricard (TLO: RI-U.TI - news) would have to pass a proposed U.S. tax on imported goods onto consumers, the chief executive of the French spirits group said on Tuesday. "Retailers are saying, and we're fully in line with them, that the border adjustment tax is a consumer tax, a consumption tax," Alexandre Ricard told reporters in London. Ricard's comments come the same week that the chief executives of some of America's largest retailers, including Target Corp and Best Buy Co Inc head to Washington to try to kill the tax.
Pernod Ricard (TLO: RI-U.TI - news) beat first-half earnings forecasts on Thursday helped by higher Chinese demand for its Martell cognac and U.S. sales of Jameson Irish whiskey but kept its outlook unchanged as Indian sales growth slowed. The world's second-biggest spirits group behind Britain's Diageo (LSE: DGE.L - news) said sales growth in India, which accounts for about 10 percent of Pernod's revenue, slowed to 3 percent in the first half as an Indian government ban on high-value bank notes held back local whisky consumption. The situation was likely to continue until the end of the third quarter, Pernod said.
Diageo (LSE: DGE.L - news) will launch a new blended Irish whiskey called Roe & Co, the world's largest distiller said on Tuesday. The maker of Johnnie Walker Scotch and Smirnoff vodka said it would invest 25 million euros ($26.76 million) over three year to build a distillery in Dublin, nearly two years after it pulled out of the Irish whiskey market. In 2015, Diageo swapped its Bushmills Irish whiskey brand for Cuervo's 50 percent stake in their Don Julio premium tequila joint venture to regain its leading position in tequila.
PARIS, Dec (Shanghai: 600875.SS - news) 22 (Reuters) - Champagne drinkers in Britain - the biggest export market for bubbly - face higher prices next year as the impact of the shock Brexit vote on the British pound takes its toll, champagne industry executives warned. "The market in Britain is undergoing a period of adjustment. The brands have not yet factored in the effect of foreign exchange rates on their prices," said Charles-Armand de Belenet, marketing director for Pernod Ricard (TLO: RI-U.TI - news) 's Martell Mumm Perrier-Jouët champagne brand.
French spirits group Remy Cointreau reported a seven percent rise in first-half profits, driven by recovering demand for its cognac in China and a growing take-up for its premium brands in the United States, its top market. The maker of Remy Martin cognac and Cointreau liquor, which is on a drive to sell higher-priced spirits to boost profitability, kept its forecast for growth in current operating profit in the 2016/17 full year on a like-for-like basis. In October, Remy Cointreau (Swiss: RCO.SW - news) had said it was comfortable with the consensus of analysts' estimates for full-year like-for-like operating profit growth of 8 percent.