Emerging markets boost Pernod Ricard sales

20th October 2011, Comments 0 comments

French drink and wine group Pernod Ricard reported on Thursday a six percent rise in quarterly sales to nearly two billion euros ($2.7 billion) driven by growth in emerging markets.

The maker of Absolut vodka and The Glenlivet whisky saw sales jump by 20 percent in emerging markets in its first quarter that runs from July to September.

Sales in India soared by 29 percent, 26 percent in Russia and 25 percent in China.

"The start of the 2011/12 financial year confirms the solidity of our markets," Pernod Ricard Chief Executive Officer Pierre Pringuet said in a statement.

"Our outlook assumes a macro-economic scenario featuring strong dynamism in emerging markets and slow growth in mature markets.

The company is aiming for six percent organic profit growth in its 2011/12 reporting year.

Pernod Ricard's shares gained 0.8 percent to 65.12 euros in early trading on the Paris stock exchange which was down 1.59 percent overall.

© 2011 AFP

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