Pernod Ricard’s first-quarter sales report paints a rosy picture in America and Europe. The French spirits company reported 6% and 3% growths in those two markets, respectively.
However, Pernod Ricard suffered a 1% deceleration in the rest of the world. The company points towards “a difficult environment in China” as the reason for this slow down.
Overall, the company grew 3% in the first quarter, with total sales of about $2.52 billion.
“We continue to implement our long-term growth strategy, while increasing investments behind our priority brands and innovations and remaining very disciplined on costs and pricing,” said Alexandre Ricard, Chairman and Chief Executive Officer.
The company’s top key 14 brands posted a growth performance of 2%, the company says, driven by Jameson and The Glenlivet. Priority Premium Wines rebounded at +8%, due to improvement in the UK and Australia.
Local brands grew 5%, thanks to Indian whiskies and Passport.
“We are aiming for +1% to +3% organic growth in profit from recurring operations for fiscal year 2015/16,” Ricard said.