Pernod Ricard: 9-month Sales; Spirits & Wine Sales Grow by 77%; The Group Confirms Its Forecasts for the Year.Business Editors/Food & Beverage Writers PARIS--(BUSINESS WIRE)--Nov. 13, 2002 At 30 September 2002, Pernod Ricard Pernod Ricard (Euronext: RI) is a French company producing alcoholic beverages. Their most famous product, Pernod Anise (40% alcoholic volume) and Ricard Pastis, are both pastis, and often referred to as simply Ricard or Pernod. reported consolidated sales, excluding duties and tax, of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3,664 million, up 10% on the first nine months of 2001. The Spirits & Wine division's sales rose 77%. Spirits & Wine The Spirits & Wine division had consolidated sales of EUR 2,297 million in the first nine months of 2002, up 77% year-on-year and consistent with the 78% rise in first-half 2002. Currencies had a negative impact of EUR 25 million, or 1.9% of sales. This was attributable mainly to the weakness of the Argentine peso The peso (originally established as the nuevo peso argentino or peso convertible) is the currency of Argentina. Its ISO 4217 code is ARS, and the symbol used locally for it is $ (to avoid confusion, Argentines frequently use US$, , which accounted for 70% of the impact, and of the US dollar. The sales generated by Seagram brands amounted to EUR 939 million. After the impact of the destocking that affected the first half, the four Seagram brands -- Chivas, Martell, Seagram's Gin, The Glenlivet -- rallied during the third quarter, confirming the attainment of the year's targets. Pernod Ricard's historical brands had sales of EUR 1,358 million in the nine months to 30 September, up 3.9% organically. This is slightly less than in the first half, mainly because of weaker consumption of aniseed-based spirits in France, as previously announced. Non-core businesses The "Fruit Preparations" business generated sales of EUR 431 million in the period under review, compared with EUR 998 million at 30 September 2001. The difference is due to asset sales under way since the beginning of the year. With the disposal of SIAS SIAS Statutory Inspection of Anglican Schools (UK) SIAS Sistema Integral de Atención en Salud (Guatemala) SIAS Standard Intel Architecture Servers SIAS Say It Ain't So MPA MPA medroxyprogesterone acetate. in mid-May 2002, the bulk of third-quarter sales originated from the soft drinks activities of Agros, which is in the process of being sold. Sales from the Distribution business amounted to EUR 936 million compared with EUR 1,033 million at 30 September 2001. The sale of BWG BWG Bankwesengesetz (Federal Law on Banking, Austria) BWG Beam Waveguide (antenna) BWG Bundesamt für Wasser und Geologie (Federal Office for Water and Geology, Switzerland) to Electra was finalised on 23 August 2002. Forecasts: Based on these positive trends, the company is confirming its forecasts for 2002: -- two-fold increase in operating profit from Spirits & Wine compared with 2001 -- operating margin of some 20% -- earnings per share(a) of EUR 6.40 -- gearing ratio of approximately 1:1 (a) Net of exceptional and extraordinary item and goodwill amortisation Noun 1. amortisation - the reduction of the value of an asset by prorating its cost over a period of years amortization reduction, step-down, diminution, decrease - the act of decreasing or reducing something 2. , diluted for convertible bonds For more information about Pernod Ricard, please visit our website: http://www.pernod-ricard.com |
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