Pernod Ricard targets slight profit growth

Published: 02 November, 2009

Pernod Ricard is targeting a slight rise of organic growth in profits from recurring operations of between 1 and 3 per cent for 2009/2010 and indicates it is seeing signs of recovery from the economic downturn.

Pernod Ricard is targeting a slight rise of organic growth in profits of recurring operations between 1 and 3 per cent for 2009/2010 and indicates it is seeing signs of recovery from the economic downturn.

The second largest spirits group which is holding its annual shareholder meeting in Paris today, said it will increase advertising and promotion investment behind its strategic brands.

Pernod said in a statement "The group reaffirms its confidence in the quality of the portfolio and in the strength of the distribution network, particularly in emerging countries and highlights that, even if the general economic environment remains difficult, particularly in Europe, early signs of improvement are appearing in certain markets."

Created by a merger of Pernod and Ricard in 1975 the group has undergone sustained development based on both organic growth and acquisitions of Seagram, Allied Domecq and recently Vin Spirit have made the group the world's co-leader in wines and spirits.

Brands in the Pernod Ricard portfolio include Absolut vodka, Chivas Regal, The Glenlivet, Jameson's Irish Whiskey and Jacob's Creek.

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