“The continued decline in the on-trade combined with decreased consumer confidence had a negative impact on all sectors of the drinks industry in Ireland,” claimed IDL Pernod Ricard.
However sales of Jameson internationally offered a somewhat more optimistic outlook.
Sales of IDL’s flagship brand reached 3.9 million cases through a volume growth of 15 per cent and is likely to reach four million cases in the next few months.
IDL reports a value growth of 18 per cent thus outstripping volume growth, one of Jameson’s key objectives.
In the US, Jameson’s biggest market, sales increased 29 per cent in what was otherwise a slow-performing premium spirits market.
In fact 50 of the 80 worldwide markets for Jameson achieved double-digit growth during the year.
“The sustained progress of Jameson within the Pernod Ricard family of brands has been one of the group’s most eminent success stories,” commented IDL Pernod Ricard’s Chairman and Chief Executive Anna Malmhake, “As one of Ireland’s most successful exports Jameson is playing a key role in the export-led recovery of the Irish economy.”
However she added, “In contrast to this growth and optimism for our export markets, the outlook for our industry here in Ireland is concerning. Successful cultural events, in particular the Jameson Dublin International Film Festival which exhibits best practice in responsible marketing, are significant revenue- and goodwill-generating events for the local economy. I would urge the Government not to take any legislative actions regarding event sponsorship which would jeopardise this positive and much-needed stimulus for domestic growth and recovery”.
Parent company Pernod Ricard International reported a nine per cent growth in net profits from €1.077 billion to €1.174 billion on a seven per cent rise in sales to €8.2 billion (or eight per cent on an organic basis).
Pierre Pringuet, Pernod Ricard Group’s Chief Executive, commented, “Throughout the 2011/12 financial year, the Group recognised its best growth rates since the 2008 crisis, be it for the top or bottom line”.