Chivas whisky owner Pernod Ricard expecting 'continued uncertainty and volatility' amid Covid woes
The owner of Chivas Regal and The Glenlivet Scotch whiskies expects “continued uncertainty and volatility” next year after taking a €1 billion (£890 million) hit over the past financial year.
By Scott Reid
Wednesday, 2nd September 2020, 1:41 pm
Pernod Ricard is the French spirits giant that owns Chivas Brothers, one of the biggest producers of whisky in Scotland. Picture: John Devlin
French spirits giant Pernod Ricard, whose other brands include Mumm champagne, Absolut vodka and Martell cognac, has been hit hard by the shutdown of bars and restaurants in most of its key markets due to the Covid pandemic.
Profit from recurring operations fell 13.7 per cent on an organic basis to €2.26bn in the year to 30 June, though this was a stronger outcome than the company’s July revised guidance for a 15 per cent decline. Over the period, global sales fell 9.5 per cent to some €8.45bn.
The firm took a €1bn impairment charge during the year due to Covid-19 and mostly related to Absolut vodka. (USED FOR HAND SANITIZER)
Key categories were impacted by the pandemic, the group noted, though its specialty brands category performed well, underpinned by Martell, Chivas Regal, Absolut and Ballantine’s.
Chairman and chief executive Alexandre Ricard told investors: “For [financial year 2021], Pernod Ricard expects continued uncertainty and volatility, in particular relating to sanitary conditions and their impact on social gatherings, as well as challenging economic conditions.
“We anticipate a prolonged downturn in travel retail but resilience of the off-trade in the US and Europe and sequential improvement in China, India and the on-trade globally.”
“We will harness our agility to adjust fast to capture new opportunities. Thanks to our solid fundamentals, our teams and our brand portfolio, I am confident that Pernod will emerge from this crisis stronger.”
Jean-Christophe Coutures, chairman and chief executive of Scotch whisky business Chivas Brothers, said: “Our business and brands have responded with agility and resilience in the face of unprecedented market conditions, in many instances outperforming the category
“Strong performances in key regions such as North America and Eastern Europe, as well as in domestic markets with fewer social restrictions such as Taiwan and Korea, have helped offset the heavily-impacted global travel retail channel.
“We remain confident in the strength of our portfolio and the Scotch category as a whole, especially in its ability to withstand and overcome external challenges.”
By Scott Reid
Wednesday, 13th May 2020,
It follows the company’s distribution of more than 10,000 litres of hand sanitiser to social care providers and charities across Glasgow, West Dunbartonshire, Renfrewshire and Ayrshire.
Gordon Buist, production director at Chivas Brothers, said: “As NHS Scotland’s first pro-bono hand sanitiser supplier we look forward to supporting more frontline healthcare workers across the country who are working tirelessly in the fight against the pandemic.
“We’re fortunate to have been able to repurpose part of our production facilities to the bottling and packaging of hand sanitiser, enabling us to better assist NHS Scotland in the fight against the virus.”
Brian Roach, NHS Scotland category manager, said: “The donation of hand sanitiser from Chivas Brothers is a significant gesture, for which NHS Scotland is hugely grateful. This sanitiser will contribute towards appropriately protecting NHS Scotland clinical and frontline staff as they undertake their essential daily activities.”
Chivas is also supporting the UK effort more widely, having donated 100,000 litres of pure alcohol last month to manufacturing partners to create more than 120,000 litres of hand sanitiser for frontline NHS staff battling the pandemic in communities across England, Scotland and Wales.
Wednesday, 13th May 2020,
Chivas Brothers is also supporting the UK effort more widely, having donated 100,000 litres of pure alcohol last month to manufacturing partners to create over 120,000 litres of hand sanitiser for frontline NHS staff battling the pandemic in communities across England, Scotland and Wales.
The Scotch whisky business of global spirits group Pernod Ricard said it was committed to providing more than 50,000 500ml bottles of much-needed hand sanitiser by the end of June.
The firm has begun the transportation of its NHS-approved hand sanitiser, which is produced at the Plymouth Gin distillery and packaged by the team at Chivas Brothers’ site in Dumbarton, to NHS Scotland’s central distribution hub. From there it will go on to support health boards across the country.
The Scotch whisky business of global spirits group Pernod Ricard said it was committed to providing more than 50,000 500ml bottles of much-needed hand sanitiser by the end of June.
The firm has begun the transportation of its NHS-approved hand sanitiser, which is produced at the Plymouth Gin distillery and packaged by the team at Chivas Brothers’ site in Dumbarton, to NHS Scotland’s central distribution hub. From there it will go on to support health boards across the country.
It follows the company’s distribution of more than 10,000 litres of hand sanitiser to social care providers and charities across Glasgow, West Dunbartonshire, Renfrewshire and Ayrshire.
Gordon Buist, production director at Chivas Brothers, said: “As NHS Scotland’s first pro-bono hand sanitiser supplier we look forward to supporting more frontline healthcare workers across the country who are working tirelessly in the fight against the pandemic.
“We’re fortunate to have been able to repurpose part of our production facilities to the bottling and packaging of hand sanitiser, enabling us to better assist NHS Scotland in the fight against the virus.”
Brian Roach, NHS Scotland category manager, said: “The donation of hand sanitiser from Chivas Brothers is a significant gesture, for which NHS Scotland is hugely grateful. This sanitiser will contribute towards appropriately protecting NHS Scotland clinical and frontline staff as they undertake their essential daily activities.”
Chivas is also supporting the UK effort more widely, having donated 100,000 litres of pure alcohol last month to manufacturing partners to create more than 120,000 litres of hand sanitiser for frontline NHS staff battling the pandemic in communities across England, Scotland and Wales.
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