Paris (dpa -AfX) – Weak businesses in China and Europe have surprisingly significantly burdened the spirits manufacturer Pernod Ricard in his third business quarter. Sales had dropped by three percent to 2.28 billion euros, the manufacturer of brands such as Absolut Vodka, Chivas Regal and Havana Club said in Paris on Thursday. Experts surveyed by Bloomberg had calculated a decline, but only expected a minus of one percent.
The stock lost 1.5 percent on Thursday before Easter. The figures would have missed the expectations, but were not a disaster, said the analysts of the Canadian bank RBC.
In Europe, sales dropped by seven percent, especially because of a weak development in Germany. In Asia, the largest market in the group, the proceeds due to political requirements in China fell by six percent. Dark -free purchases at airports have been restricted in China for several months. This is part of a measure against corruption in the country. In addition, tariffs for European vineyards burden. In contrast, there was growth in America.
The group confirmed the forecast reduced in February when submitting sales data for the third quarter. According to this, the proceeds in the current financial year 2024/25 (June 30) should decrease in order to decrease currency and takeover effects in the low single-digit percentage range. Before that, the company had promised return to growth. For experts, the reduced forecast in February was not surprising. Because of the continuing problems in China, they had expected the growth forecast to be cut ./zb/nas/mis
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