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Pernod Ricard sales up despite muted third quarter

Published: 23 July, 2008

Net sales at drinks firm Pernod Ricard were up 3.9% for the first nine months of its 2007/08 financial year despite a third quarter slowdown.

Sales for the nine-month period were 5,091, up from 4,898m in the previous.

However, consolidated net sales in the third quarter of 2007/08 were down by 1% to 1,378m.

The group's premiumisation strategy continued successfully with Penod Ricard's 15 strategic brands growing twice as fast in value (12%) as in volume (6%).

Patrick Ricard, Pernod Ricard chairman, commented: "The dynamism noted in the third quarter of 2007/08 is in line with our expectations and again reflects the quality of our brands portfolio and the strength of our distribution network.

"Sales for the first nine months of the 2007/08 financial year enable us to confirm our 2007/08 full-year guidance for growth in operating profit from ordinary activities, on a like-for-like basis of at least +12%."

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