But foreign exchange trimmed the reported growth rate to 9%. In the fiscal first quarter, Pernod Ricard said sales in the Americas region reached €652 million, up from €649 million in the like year-earlier quarter.
The company noted “continued dynamism in the Americas, with good performance in the U.S.A. and acceleration of Travel Retail throughout the continent.”
On a worldwide basis, organic growth was up 5.7% while “unfavorable forex impact” trimmed reported growth to 2%.
Group topline improvement was primarily driven by the Strategic International Brands (+8%) with strong broad-based growth, in particular from Martell, Absolut, Jameson, Ballantine’s, Chivas and Malibu.
The Strategic Local Brands grew +2% with Seagram’s Indian whiskies growth still subdued due to the highway ban but strong growth in tequila and gin.
Strategic Wines also had a very strong quarter at +8%, thanks mainly to Campo Viejo.
Innovation delivered an incremental +2% to overall Group Sales, the company said. .
“We have had a very good start to the year, with our growth accelerating and diversifying in terms of both markets and brands. This is again testimony to the success of the strategic direction we adopted 2 years ago,” said Alexandre Ricard, chairman/ceo, adding:
“In an environment that remains uncertain, we confirm our FY18 guidance of organic growth in Profit from Recurring Operations of between +3% and +5%. We will continue to implement our roadmap, in particular focusing on digital, innovation and operational excellence.”