Pernod Ricard has cut its sales guidance because of uncertainty over tariffs and a slowdown in China, where government anti-dumping measures have hit demand for its cognac brand Martell.
The French spirits group, whose brands also include Absolut Vodka and Havana Club rum, said it was expecting a “low single-digit” fall in organic sales this year, having previously forecast a return to growth.
Pernod Ricard also forecast sales would grow by 3-6 per cent between 2027 and 2029, down from previous guidance of 4-7 per cent, as it warned that “extraordinary trade tensions” were weighing on performance.
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