Pernod reports growth in sales
Drinks company Pernod Ricard has reported pre-tax sales of €1.495m for the first half of 2003.
The France-based company said that the 8% organic growth was achieved by excellent results in its major European markets - Italy, Spain, UK, Germany and Greece - as well as Eastern Europe and Russia.
The difficult market conditions encountered in France through the first quarter of the year continued, albeit with a slight improvement in the last two months.
The wine and spirits operator also reported difficult market conditions in Ireland. This was attributed to the increase in excise duty in the last Budget.
Sales in the Americas meanwhile, hit by currency fluctuations, were also good according to the company.
Pernod Ricard said it looked forward to a strong improvement, at constant exchange rates, in operating profits for the first half of 2003.
