Pernod Ricard Sales Decline Softened by Strong Growth in India
· Business · Bloomberg, Economic Times
Pernod Ricard SA reported a smaller-than-expected drop in quarterly sales, aided by resilient demand in India that helped offset ongoing weakness in the US and China. Organic net sales fell 0.9 percent from the previous year, outperforming the 1.24 percent decline estimated by analysts. The maker of Absolut vodka and Jameson whiskey maintained its mid-term financial forecast unchanged. The company continues to navigate sluggish consumer spending in its major Western and East Asian markets while relying on emerging growth regions.
Why it matters
The performance underscores India's growing importance as a vital consumption cushion for multinational beverage giants facing headwinds in traditional Western markets.
Read the original report — Bloomberg
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