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Pernod Ricard on the up

From The Publican


Pernod Ricard enjoyed "vigorous" growth in wine and spirit sales in the first half of 2003, with upmarket cognac brand Martell increasing its appeal to UK drinkers.

Total sales were just over £1bn despite difficult market conditions in Pernod's home territory of France, with eight per cent organic growth through "excellent" results in other European countries.

Along with Martell's success in the UK, Pernod Ricard said its "growth driver" brands - Ramazzotti, Jacob's Creek, Jameson, Havana Club, The Glenlivet - are all sustaining their rapid expansion.

Despite problems in the Americas, mainly due to losses caused by exchange rates between the euro and the dollar and South American currencies, the strength of its core brands "make it possible, despite the difficult global economic environment, to look forward to a strong improvement, at constant exchange rates, in operating profit".

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