PROFITS BOOST FOR PERNOD RICARD

Published: 23 July, 2008

Pernod Ricard has announced end-of-year results for 2001 which show spirits and wine as the key growth areas of the business. During 2001 the group's total net profits grew by 84%, from E195 million to E358 million, as exceptional profits were boosted by the sale of Italcanditi, San Giorgio, Orangina-Pampryl and other non-core' elements of the company's fruit preparations business. The spirits and wine sector, meanwhile, grew its turnover by 9.5% (8.2% internal growth) to E1.92 billion, with an operating profit up 14% (15.5% internal growth) to E344 million. The company said that much of this growth was down to range extensions to key brands such as Havana Club, Jameson and Jacob's Creek. According to a company spokesperson, Pernod Ricard's joint-purchase of the Seagram drinks portfolio with Diageo - which now makes Pernod Ricard the world's third largest drinks business - did not have a significant impact on the year's accounts. The operational integration process came broadly into effect at closing.'

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