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Pernod Ricard expects broadly stable organic net sales in FY27, with US and China declines offset by growth elsewhere. First-quarter organic net sales fell 0.9% to €2.23 billion, reflecting inventory adjustments in the US and China. Average organic sales growth is targeted near the lower end of the 3%-6% range over FY2
US sales fell 10% and China sales fell 25% on inventory adjustments. Volumes rose 6%, while Rest of World excluding the US and China grew 4%. Pernod Ricard expects FY27 organic net sales to be broadly stable.