Pernod Ricard Toasts Sparkling Results

21 September 2007

PARIS: The world's second largest liquor manufacturer, Pernod Ricard, posted full year results to the end of June reporting a 30% rise in net profit to €831 million ($1.16bn; £580m), substantially ahead of analysts' expectations.

The maker of Martell cognac and Chivas Regal scotch whisky bought rival Allied Domeq two years ago and has cut the costs of distilling its acquisition's brands such as Beefeater gin.

Chairman Patrick Ricard said the business was confident for the next year: "Based on current market conditions and on a like-for-like basis, our guidance is a further year of strong growth in Pernod Ricard sales and operating profit."

The company is in the running to buy Vin & Sprit, the Swedish owner of Absolut vodka. However, it will make a final decision on its strategy when negotiations with Russian authorities about the acquisition of Stolichnaya vodka are concluded.

Data sourced from France; additional content by WARC staff