|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||173.62 - 174.60|
|52 Week Range||148.24 - 182.00|
|Beta (3Y Monthly)||0.26|
|PE Ratio (TTM)||25.20|
|Forward Dividend & Yield||2.81 (1.57%)|
|1y Target Est||N/A|
French spirits maker Pernod Ricard, which is being targeted by activist investor Elliott, raised its profit outlook on bets cost savings and Chinese demand will offset a slowdown in quarterly sales growth. Pernod, the world's second-largest spirits group after Diageo, is hoping cost cuts, expansion into profitable premium brands such as Malfy gin and sustained demand for Martell cognac in China will underpin sales growth and profits. This truly reflects the efficiency of our strategy plan," CEO Alexandre Ricard told Reuters.
Drinks group Pernod Ricard is having regular and "courteous" talks with activist investor Elliott, although it is not necessarily meeting Elliott any more than it would with any other regular shareholder, the head of Pernod told Reuters. My ambition remains to deliver on our strategic plan, that's my motto," CEO Alexandre Ricard said in a telephone interview. Pernod, which is the world's second-biggest spirits group behind Diageo, is under pressure from New York hedge fund Elliott Management to improve profit margins and corporate governance.
French spirits maker Pernod Ricard, which is being targeted by activist investor Elliott, said it was now expecting annual profit growth at the top end of its expectations, despite a slowdown in sales growth in the third quarter. Pernod, which owns Mumm champagne, Absolut vodka and Martell cognac, said that for its 2019 financial year it was now targeting an organic rise of around 8 percent in profit from recurring operations, at the top of its guidance of 6-8 percent growth given back in February. Pernod, which had benefited from advance cognac shipments ahead of the Chinese New Year, had flagged in February that sales growth would moderate in the second half of the year.
The Trump administration has placed new sanctions and other tough restrictions on Cuba and Venezuela in a series of measures designed to increase the pressure on Havana and try to force it to end its support for Nicolás Maduro, Venezuela’s de facto president. Speaking in Miami to survivors of a Cuban exile group that once led the failed 1961 Bay of Pigs invasion, John Bolton, the US national security adviser, said that Washington was targeting Cuba’s military and intelligence services through these sanctions, and that it would also restrict travel and cap exile remittances to the island.
Pernod Ricard, which is being targeted by activist investor Elliott, plans to buy super premium Italian gin brand Malfy from Biggar & Leith, as it further strengthens its fast-growing portfolio of so-called 'craft' spirits. Pernod's latest takeover comes as the company, which is the world's second-largest spirits group behind Diageo, faces pressure from U.S. hedge fund Elliott Management to improve profit margins and corporate governance. The financial terms of the deal, which was announced by Pernod on Wednesday, were not disclosed.
The world’s enduring thirst for their light rum has pumped billions of dollars into the family’s coffers since 1862, enriching hundreds of clan members now spread across the globe. About 6 million Bacardi rum and Cokes are thrown back every day, and the popularity of that classic cocktail known as the Cuba Libre helped Bacardi Ltd. sell 17 million cases of its eponymous spirit in 2017. It’s no less a family affair if your preferred tipple is a Negroni, made with one part Campari, profits on which flow to Italy’s Garavoglia family.
Drinks group Pernod Ricard, which is being targeted by activist investor Elliott, is banking that its push into socially and environmentally sound business practices will boost its growth in the coming decade. Pernod, the world's second-biggest spirits group behind Diageo, is unveiling on Wednesday a strategic roadmap plan going up to 2030. Other pledges include aims to save water and cut down on waste and carbon emissions, as well as fighting alcohol abuse and promoting gender balance in its top management teams.
Drinks group Pernod Ricard, which is being targeted by activist investor Elliott, said its business in Europe, the Middle East, Africa and Latin America (EMEA/LATAM) was well positioned for "solid top line growth and margin improvement". Pernod Ricard, the world's second-biggest spirits group behind Diageo, also said that while the disposal of non-core assets was part of its strategy, its wine business was "a nice complement" to its spirits operations. Pernod Ricard is under pressure from New York hedge fund Elliott Management to improve profit margins and corporate governance.
Lingering problems include lackluster margins, potential increases in restructuring charges and loan losses in 2019, and the continuation of provisions at NatWest Markets. 1154 GMT - Airbus’s strong momentum in 2018 was impressive as the plane maker’s commercial margins reached 14% in its last quarter, Milene Kerner, analyst at Deutsche Bank, says. “Airbus enters 2019 in good shape, with a backlog of 7,577 aircraft worth 8+ years of production cover.” The brokerage raises its target price on the stock to EUR124 from EUR122.
Pernod Ricard will embrace change and continue "constructive" talks with activist investor Elliott Management, CEO Alexandre Ricard said on Tuesday while dismissing speculation that the company could become a takeover target. The world's second-biggest spirits group behind Diageo is under pressure from New York hedge fund Elliott Management to improve profit margins and corporate governance. Last week Pernod vowed to lift its margins and shareholder returns in a three-year strategic plan that Elliott described as a first small step.
In December, when Elliott disclosed a near 1 billion euro ($1.1 billion) stake in Pernod-Ricard — owner of Chivas Regal, Jameson Irish whiskey and Absolut vodka — it looked like we were in for a typical fight between aggressive New Yorkers and a French corporate treasure. Elliott lashed out at the family-run company’s governance and called for cost cuts to fix its poor performance versus peers. Bloomberg News reported that a sale of Pernod was one option. The drinks firm’s CEO, Alexandre Ricard, defended its long-term investment horizon.
Activist investor Elliott kept up the pressure on French spirits group Pernod Ricard, welcoming this week's first-half results but calling for boardroom changes and better margins. Elliott, which has built a stake of just over 2.5 percent in Pernod Ricard, has called on the family-backed group to raise profit margins to bring them more into line with British rival Diageo. Elliott has suggested 500 million euros (437 million pounds) in cost cuts and options such as merging with another spirits company.
PARIS (Reuters) - Drinks group Pernod Ricard defended its performance and strategy on Friday, in the light of renewed criticism of the company from activist fund Elliott. A spokesman for Pernod Ricard ...
Pernod, the owner of Absolut vodka, raised its full-year operating profit guidance yesterday and said that as part of its mid-term plan, it will target sales growth of 4%-7% between fiscal 2019 and 2021. hit back at Elliott, saying the business is going in the right direction.
defended against criticism from activist investor Elliott Management Corp., setting out his own plan to boost profit at the maker of Chivas Regal whisky and Absolut vodka. The French drinks giant has been under pressure since Elliott took a 2.5% stake in December, saying Pernod had “significant room for improvement” and calling for better profit margins and governance. Mr. Ricard says Pernod is making progress on both fronts.