The owner of Absolut vodka and Mumm champagne expects growth to continue
Pernod Ricard posted a stronger-than-expected 19% organic rise in its full-year 2021/2022 operating profit on Thursday, driven by strong demand for its premium spirits in Europe, China and the US and cost control.
The world’s second-biggest spirits group said that with recurring free cash flow at a record €1.926bn, it was offering shareholders a 32% dividend hike to €4.12 per share and a new buyback scheme worth €500m-€750m for fiscal year 2022/2023. Sales reached €10.701bn, an organic rise of 17%, with sales up 8% in the key US market, 5% in China and 26% in India. Pernod said it gained market share in most markets and price increases across markets of mid-single-digit on average, offsetting the effect of cost inflation.
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