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Pernod Ricard CFO Gilles Bogaert explains why he is not concerned with the European debt crisis.
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Well a many may still be questioning the future of the Euro zone but one companies -- the end of the Euro is not -- Pernod Ricard France's largest a -- not only bullish on the continuation of the -- -- but recently calling the public debt crisis in Europe.
Largely over.
And our first on Fox Business interview.
Our chief financial officer Joseph Lagarde joins me now I'm Jill thank you for coming on the show you're not concerned about the European -- crisis -- -- -- I would say that you know we are a global company so Europe is just one of the region.
As for its (%expletive) -- -- a group -- this will very strong in Asia 45% say but -- 5% but that's okay.
But -- -- Asia we -- the Americans who we are a global company was -- -- before you.
Sensitivity -- within Europe.
Business has would be this dynamic as we are in Asia for instance we do Americans but that would sit at forty -- enough with us -- and so it's.
We've been able to post a double digits that gross in both -- says I'm I'm I'm profits and we re that would guidance for the full year.
You're CEO Terence and -- speaking with meaning I remember him saying that deleveraging was gonna be important to him and also the investment grade.
This the status of the company itself and how you were perceived by the capital markets -- are you now.
That's right I think in the last six months we've done great progress we've been upgraded to investment good -- SMP -- and Moody's.
And I would say but most of but the refinancing is behind us we the -- issued the bonds US bonds.
To repay to pay downs of bank -- pencils a -- now he's reduced one point five billion.
-- -- -- You so I would say we have -- most of the refinancing.
And I think that's we -- bit -- -- accompanied is -- who you are etiquette and deleveraging a bit about any acquisitions in the future opened his cross stronger today than it used to be.
I think we ruled out massive positions today -- but where opens some -- -- moves.
-- on remembrance.
Jill I have to ask you a lot of speculation on this side of the pond about what you might do with regards to being maybe by some of -- Businesses in particular lot of speculation can you comment.
Well as us I just said no muscular positions today I think we have.
The brands we needs to keep posting hired to playing Roseanne's industry we -- strong -- -- or key categories and so we have what we need to keep going.
37%.
Of your a business yourself right -- -- Jamieson you've got some of the bottles here these -- expensive.
Really by US standards expensive bottles of liquor -- -- but point four dollars this is 1916.
Over for the Malibu -- really.
These are reasonable price -- -- you -- -- might be able to raise prices successfully ended at the consumer -- -- panel a couple more dollars for bottle.
I think interestingly enough premium brands have to from -- arrests of some of -- -- a bit of the business.
So it shows that -- in this.
Optimizations back in -- US I think we -- -- some pricing in particular on the most going to be run for instance increase prices.
On the on the on -- we increased pricing on this it and leave it on she -- or -- so.
-- yes is is back gradually is -- US.
OK also touched us -- champagne which is something I do understand but it looks like about the competition but what constellation.
-- DI -- being.
Who do you think is the biggest threat right now tier global business especially.
-- Asian business which has been going gangbusters -- over the last year.
-- -- -- -- -- -- -- -- Check in Asia some problems that we take benefit the about a girl's obviously we have with the respect to a competitors -- nobody.
It speaking as the main competitor is judge you like and because we both operates in in or -- markets.
Okay well survey whenever as you say you are number one -- -- that Jill Bogart a course for our -- CFO thank you for being here in New York.
Thank you welcome.
