A strong set of FY19 numbers, broadly in line with our expectations. Many announcements: increased dividend, launch of a share buy-back programme, Castle Brands acquisition, and the nomination of two independent directors. Unchanged guidance compared to last year but a slowing in Q1 is expected principally due to an unfavourable comparison base in Asia/RoW. However, the group has also advised that it sees a dynamic start in the US. All in all, no reasons to be significantly worried. We see po

29 Aug 2019
Spirits flow freely

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Spirits flow freely
Pernod Ricard SA (RI:WBO) | 0 0 2.2% | Mkt Cap: 35,633m
- Published:
29 Aug 2019 -
Author:
Laura Parisot -
Pages:
3 -
A strong set of FY19 numbers, broadly in line with our expectations. Many announcements: increased dividend, launch of a share buy-back programme, Castle Brands acquisition, and the nomination of two independent directors. Unchanged guidance compared to last year but a slowing in Q1 is expected principally due to an unfavourable comparison base in Asia/RoW. However, the group has also advised that it sees a dynamic start in the US. All in all, no reasons to be significantly worried. We see po