Pernod Ricard annual sales hit by U.S. and Chinese woes

PARIS (Reuters) -Pernod Ricard reported a 3% fall in full-year 2025 organic sales on Thursday, in line with forecasts, amid tariff uncertainty and sliding sales in the United States and China.

The French company, which is the world's second-biggest Western spirits maker by revenue after Diageo, said its 2026 fiscal year would be one of transition, with improving sales trends skewed towards the second half.

It cautioned sales would decline in the first quarter, as distributor inventory adjustments would continue in the United States while consumer demand would remain soft in China.

Pernod - which has launched a restructuring plan to cut costs - reiterated its guidance for between 3% and 6% annual organic sales growth for 2027-2029, along with annual organic margin expansion.

Sales reached 10.959 billion euros ($12.83 billion) in the twelve months to June 30, representing an organic decline of 3% which met analysts' expectations for a 3% fall.

Profit from recurring operations stood at 2.951 billion euros, marking an organic decline of 0.8%.

($1 = 0.8542 euros)

(Reporting by Dominique Vidalon;Editing by Sudip Kar-Gupta)

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