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Pernod ready for more acquisitions

22-Sep-2006

Pernod ready for more acquisitions

Pernod Ricard has said it is ready for more acquisitions after successfully absorbing Allied Domecq - which it acquired for around £7billion last year.


The company's finance director Emmanuel Babeau told AFP: "Pernod Ricard has regained its margin for manoeuvre - owing to quick debt reduction - for future acquisitions that would complete our portfolio of brands."


The group also revealed full-year results on Thursday which showed a 32% increase in net profit to £429million for the 12 months to the end of June.


Pernod bought Allied Domecq in July 2005 in a deal that turned the group into the world's second-biggest spirits and wines company after Diageo.