PERNOD-RICARD_REGISTRATION_DOCUMENT_2017-2018

4

MANAGEMENT REPORT OUTLOOK

OUTLOOK 4.4

Pernod Ricard will pursue the execution of a consistent strategy with clear resource allocation and support for must-win brands and markets. For FY19, in an uncertain geopolitical and monetary environment, the Group expects: broad-based sales growth to continue; ● improved pricing; ● growing pressure on Input costs; ●

very strong Q1 given the favourable base of comparison in India and ● an earlier Mid-Autumn Festival. The guidance for FY19 is organic growth in Profit from Recurring Operations of between +5% and +7%.

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PERNOD RICARD REGISTRATION DOCUMENT 2017/2018