French drinksmaker Pernod Ricard reported a drop in second‑quarter sales on Thursday, as soft consumer demand and ongoing destocking in the US and China continued to weigh on performance.
Source: Sharecast
Pernod Ricard said like‑for‑like sales fell 5% in the three months ended 31 December, though it noted the decline was less severe than the 7.6% contraction seen in the first quarter, helped by improving trends in India and in global travel retail.
For the first half as a whole, the owner of Martell, Mumm and Absolut posted sales of €5.25bn, down 5.9% on a like‑for‑like basis and broadly in line with the 5.7% decline expected by analysts, while operating profits fell 7.5% on a like‑for‑like basis, slightly better than the 7.7% drop forecast.
The Paris-based group, the world's second‑largest Western spirits maker behind Diageo, reiterated that FY26 would remain a transition year, with momentum expected to strengthen in the second half.
As of 1015 GMT, Pernod Ricard shares were up 2.91% at €84.08 each.
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