RECORD duty free sales of its flagship brand capped a year of strong growth at Chivas Brothers, the premium whisky and gin business owned by France’s Pernod Ricard.
Scotland’s second-largest distiller said shipments of Chivas Regal rose by 7 per cent to nearly five million cases, including for the first time more than one million cases sold through the expanding duty free sector.
The value of Chivas Regal sales increased at an even faster pace, rising by 11 per cent during the year to the end of June.
Other brands – such as long-aged blend Royal Salute and the Glenlivet Speyside single malt – also chalked up double-digit sales increases.
The figures from Chivas Brothers mirror the broader performance across Pernod Ricard, which posted its strongest growth since the onset of the financial crisis in 2008.
The world’s second-largest spirits group – with brands such as Absolut, Havana Club and Martell – lifted sales by 8 per cent while profits rose 9 per cent to €2.1 billion (£1.7bn).
The results were hailed by chief executive Pierre Pringuet, who is preparing to make way as the founding family strengthens its grip on the group after the sudden death two weeks ago of chairman Patrick Ricard.
Ricard’s nephew, 40-year-old Alexandre Ricard, was yesterday named deputy chief executive ahead of plans to take the top post when Pringuet reaches the mandatory retirement age for chief executives in January 2015. At that time, the younger Ricard will also become chairman, a role now being filled Daniele Ricard, 73-year-old sister to the late Patrick.
The family is the largest shareholder with a combined 14 per cent stake in Pernod Ricard, which was founded in Marseilles in 1932 by Paul Ricard, father of Patrick and Daniele.
During the year to June,
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Weather for Edinburgh
Saturday 25 May 2013
Temperature: 6 C to 17 C
Wind Speed: 13 mph
Wind direction: West
Temperature: 9 C to 16 C
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