Pernod Ricard Q1 Sales Fall 0.9% on Organic Basis, Beating Expectations
Net sales fell 6.3% to €2.23 billion in the first quarter, while organic net sales declined 0.9%. Consensus had expected an organic decline of around 1.7%.
The French drinks group, which owns Absolut, Malibu and Beefeater, reported first-quarter net sales of €2.23bn, down 6.3%. On an organic net basis, sales declined 0.9%. Consensus had anticipated a steeper organic fall of around 1.7%. Sales in the US and China slumped 10% and 25% res