PERNOD RICARD: A lot of positives in this release | NEUTRAL | EUR169(+4%)
PERNOD RICARD - NEUTRAL | EUR169(+4%)A lot of positives in this release
Q4 organic sales surprising positively
Full year EBIT margin up 74bp organically
Strong returns to shareholders
2019/20 guidance below expectations
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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