Pernod Ricard: FY21 Guidance Updated1 to Reflect Greater Than Expected Business Dynamism: Profit From Recurring Operations Organic Growth of c. +16%

PARIS–(BUSINESS WIRE)–Regulatory News:

Following an excellent Q3, marking the return to organic Sales growth in 9M FY21, Pernod Ricard (Paris:RI) had shared, on April 22nd 2021, its guidance of organic growth in Profit from Recurring Operations for FY21 of c. +10% with, in particular, the following assumptions for the rest of fiscal year:

• Sales acceleration, thanks to continued business recovery, with On-trade gradually reopening but Travel Retail still very subdued
• Dynamic resource management, with strong reinvestment where efficient (A&P expected at c. 16% ratio for FY21)
• Organic operating leverage thanks to dynamic top-line and Structure cost discipline.

The pace of recovery is proving stronger than anticipated. The Off-trade continues to be resilient while On-trade demand is accelerating as restrictions are progressively lifted.

Resource management remains dynamic, with strong reinvestment to capture current and future growth…

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