Pernod Ricard warns Iran war will impact annual sales
Pernod Ricard reported a 0.1% rise in Q3 sales but expects a full-year decline of up to 4%. The group cited the war in Iran for impacting travel retail sales.
Pernod Ricard has reported a stronger-than-anticipated rebound in its third-quarter sales, yet the spirits manufacturer issued a warning that the ongoing conflict in Iran is expected to dampen its full-year performance. The French company, which is currently engaged in merger discussions with its American competitor BROWN-FORMAN CORP-CLASS A, saw its sales edge up by 0.1% on a like-for-like basis during the three months ending March 31. This slight growth exceeded analyst projections of a 0.7% decline and represents a significant recovery from the 5% contraction recorded in the previous quarter.
