Tag: $Pernod Ricard

A prospective tie-up between France’s Pernod Ricard and Jack Daniel’s maker Brown-Forman would ‌test whether the powerful families behind the two drinks groups can unite to scale up in a slowing global spirits market.

China spared major cognac producers Pernod Ricard (PERP.PA),LVMH (LVMH.PA), and Remy Cointreau (RCOP.PA), from new duties of up to 35% on EU brandy on Friday, easing trade tensions with Brussels as Beijing seeks to resolve a separate row over tariffs on Chinese-made EVs.

France’s Pernod Ricard on Thursday forecast its sales will grow again next year even as challenges in the U.S. and Chinese markets persist, after reporting an annual 1% drop largely in line with forecasts and its own guidance.

Shares of several French cognac makers rallied on Tuesday after France’s President Emmanuel Macron suggested that trade tensions between China and the European Union, which could impact the drinks makers, may ease.

Shares in Pernod Ricard jumped after the company confirmed its mid-term outlook and posted first-half sales that met expectations.

China has opened an anti-dumping investigation on brandy imported from the European Union, a step that appears to be mainly targeted at France and adds to ongoing trade disputes between Beijing and Brussels.

PARIS/LONDON, Oct 19 (Reuters) – French spirits maker Pernod Ricard on Thursday said it expected higher sales this year despite a tough first quarter, painting a positive picture for both China and the United States which helped lift its shares by over 5%.

Pernod Ricard (PERP.PA) warned that sales would decline in Chinese and U.S. markets in its first quarter to Sept. 30, sending shares in the drinks group down 4% on Thursday despite forecast-beating annual results.