Chivas Brothers, the Scotch whisky business of Pernod Ricard, announced a “robust” performance for the year to June 30 that it said reflected “the significant increase in global demand for Scotch.”
Chivas said that with net sales up 25% — derived from both mature markets and emerging markets — it continues to invest in portfolio innovation and the sustainable future of Scotch.
Chivas said: “All four strategic international brands registered a record high growth in FY22, with Chivas, Ballantine’s, Royal Salute and The Glenlivet growing over 20% in domestic markets.”
The news from Chivas Brothers came as parent group Pernod Ricard — the world’s second-biggest spirits group — raised its dividend and promised a fresh share buyback after its annual profit rose by almost 20% and sales exceeded €10 billion for the first time.
Pernod Ricard’s operating profit increased 19% on a comparable basis to reach €3 billion and the group said it would raise its dividend 32% to €4.12 per share and buy back €500 million to €750 million of its shares in the coming year.
Chivas added: “In travel retail, Chivas and The Glenlivet recorded triple digit growth, demonstrating a steady recovery of the travel retail industry as restrictions lift.
“Sales were particularly robust in emerging markets – Brazil (+56%), India (+43%) and Poland (+12%) with strong momentum in historically mature markets – Spain (+41%), South Korea (+35%) and Japan (+13%).”
Chivas Brothers chairman and CEO Jean-Etienne Gourgues said: “These positive results demonstrate that our strategy for growth, with investment across innovation and sustainability, is on track.
“We are well set up to continue this trajectory in FY23 to shape the future of Scotch by opening up the category to new audiences across the globe.”
Pernod Ricard CEO Alexandre Ricard said: “FY22 was a record year in many respects. Our sales broke the symbolic milestone of €10 billion with our fastest growth rate in over 30 years, delivering a record €3 billion profit from recurring operations at a record operating margin of 28.3%.
“FY22’s performance was also very well balanced. Growth was driven by all regions, categories, price points and channels, with a comparable contribution from both mature and emerging markets.”