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After Diageo, Pernod Ricard posts strong sales acceleration in India

After Diageo, Pernod Ricard posts strong sales acceleration in India

After Diageo, Pernod Ricard posts strong sales acceleration in India
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By CNBC-TV18 Aug 30, 2019 1:40:12 PM IST (Updated)

Pernod Ricard, the world's second-biggest spirits group behind Diageo, reported a 20 percent increase in sales in India, which offset a flat performance in the United States.

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Sales in India grew 20 percent plus in FY19 thanks to the continued expansion of Seagram’s Indian whiskies and strategic international brands, according to a statement by the company.
Pernod Ricard’s strong earnings in India follows a similar performance by competitor Diageo, which reported an 8 percent rise in sales in the June quarter, led by strong demand for scotch.
Diageo, the maker of Johnny Walker and Smirnoff, was among the few bright spots in an otherwise disappointing earnings seasons for companies. Diageo’s subsidiary United Spirits posted a near 10 percent rise in sales.
Providing a breakup of sales by regions, in “Asia-Rest of World”, there was an over 12 percent strong acceleration in sales driven mainly by China, India and Turkey and continued strong growth in Japan, the company said.
The company said its focus on strategic local brands paid off in India: there was 12 percent plus acceleration driven by Seagram’s Indian whiskies.
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