FY div 4.70 eur/share (Il Sole 24 Ore Radiocor) - Paris, 29 Aug - The French beverage group Pernod Ricard said that in the full year ended in June net sales totalled 11.598 billion euros, down a reported 4% and down an organic 1%, with a negative foreign exchange impact of 784 million euros mainly linked to the Argentinian peso, Turkish lira, US dollar, Chinese yuan and Indian rupee, partly offset by a positive perimeter impact of 395 million.

The profit from recurring operations was 3.116 billion euros, up an organic 1.5% but down a reported 7%.

Group share of net profit from recurring operations was 2.000 billion euros, down 14.5%.

The bottom line was down 35% at 1.476 billion euros.

Earnings per share declined to 7.90 euros.

Free cash flow fell 33% to 963 million euros.

Net debt up 677 million euros year on year to 10.951 billion euros.

The company plans to pay a full year dividend of 4.10 euros per share.

"Leveraging our diversified portfolio and balanced footprint we reiterate our confidence in our medium-term financial framework of aiming for the upper end of +4% to +7% organic net sales growth and +50bps / +60bps organic operating margin expansion," the company said.

For the current full year, Pernod expects organic net sales "back to growth with continued volume recovery and to sustain organic operating margin." It also anticipates a "soft Q1 with further inventory adjustments in the US, a continued very weak macro context in China and a good performance in the rest of the world.".

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(RADIOCOR) 29-08-24 08:21:15 (0154) 5 NNNN