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Pernod Ricard profit up 13% on U.S. whiskey demand

Staff Writer |
Pernod Ricard posted a rise in full-year net profit on Thursday helped by higher U.S. demand for whiskey, a return to sales growth in China and tight cost control.

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The owner of Absolut vodka, Martell cognac and Mumm champagne set a target for a rise of 3% to 5% in profit from recurring operations for its 2018 fiscal year.

Net profit for the year to June 30 rose 13% to 1.39 billion euros ($1.65 billion) on group sales of EUR9.01 billion, up 4%.

Profit from recurring operations rose 5% to EUR2.39 billion.

Fourth quarter sales rose 5%, reflecting an increase of 6% in America, 5% in Asia and 2% in Europe.

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