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