Chivas Bros owner hails ‘ very good start’ to year

Spirits giant Pernod Ricard yesterday said it had made “a verygood start to the year” as it reported total sales for its financial first quarter of almost € 2.3 billion (£ 2.1bn).

The group, whose Chivas Bros subsidiary ranks as Scotland’ s second biggest whisky producer, announced organic growth of 5.7 per cent and hailed a strong performance for its “strategic international brands”, in particular from Martell, Absolut, Jameson, Ballantine’s, Chivas and Malibu.

Reported growth was pinned at 2 per cent due to an “unfavourable” foreign exchange impact over the period.

Alexandre Ricard, chairman and chief executive of Pernod Ricard, said: “We have had a very good start to the year, with our growth accelerating and diversifying in terms of both markets and brands.”

He added :“In an environment that remains uncertain, we confirm our[ fullyear 2018] guidance of organic growth in profit from recurring operations of between 3 per cent and 5 per cent.”