Pernod Ricard first-quarter sales growth slows as China and India decelerate
Updated : October 17, 2019 04:25 PM IST
For the first quarter ended September 30, Pernod reported sales of 2.483 billion euros ($2.75 billion), marking a like-for-like rise of 1.3 percent.
Pernod Ricard is under pressure from US hedge fund Elliott, which has a 2.5 percent stake, to improve profit margins and corporate governance.
In August Pernod, the world’s second-biggest spirits group behind Diageo, indicated it expected a relatively soft first quarter, citing a very high year-ago comparison basis in Asia.