|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||184.35 - 186.20|
|52-week range||131.65 - 190.60|
|Beta (5Y monthly)||0.53|
|PE ratio (TTM)||184.20|
|Forward dividend & yield||2.66 (1.43%)|
|Ex-dividend date||07 Jul 2021|
|1y target est||N/A|
PARIS (Reuters) -Pernod Ricard raised its annual profit forecast as the French drinks saw a stronger than expected recovery with the removal of COVID-19 curbs, driving its shares to a record high in early trading on Wednesday. The owner of Mumm champagne, Absolut vodka and Martell cognac now expects organic profit growth of about 16% for its 2020/2021 fiscal year, up from a previous April forecast of 10%. "The pace of recovery is proving stronger than anticipated (...) Demand is accelerating as restrictions are progressively lifted," the group said in a statement on Wednesday.
Pernod Ricard is confident about its prospects in Asia, helped by cognac and scotch whisky demand in China, the French drinks company's Asia boss said on Tuesday. "Despite the pandemic and the many uncertainties we have to navigate through, our business is resilient, rebounding and continuing its transformation," Pernod Ricard Asia Chairman and Chief Executive Philippe Guettat said on a company YouTube presentation. Guettat confirmed during a call with analysts the group's medium-term ambition for sales growth rates of high single to low double digits for China and low double digits for India.
Pernod Ricard said on Thursday it expected 10% organic profit growth in fiscal year 2020/21 after strong demand in its key U.S. and Chinese markets helped the French spirits group beat third quarter sales forecasts. The owner of Mumm champagne, Absolut vodka and Martell cognac expected sales to accelerate in the fourth quarter as bars and restaurants gradually reopen, though travel retail is expected to remain subdued due to limited passenger traffic. That performance marked a return to sales growth after the previous two quarters showed a decline.