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News
Pernod performs
PERNOD-RICARD has announced a rise in operating profit of 11.1% on a like-forlike basis for the first half of 2004
PERNOD-RICARD has announced a rise in operating profit of 11.1% on a like-forlike basis for the first half of 2004. This is reflected in an increase in group net profits of 4.7% to €169m, driven by the continued strong growth of their major brands.
The Asia/Rest of World and Americas regions generated over 18% of the growth, while France saw a slight fall in operating profit due to increased advertising and promotional expenditure. The currency effect was negative at -10.6% on operating profit (equivalent to a reduction of €29.5m) due to a pincer effect from sales in depreciating currency countries (US and Asian markets) and production and operating costs in appreciating currency countries (UK and Europe).
Chairman, Patrick Ricard, comments, "I am delighted with the performance achieved on the first half year and the strong growth of our premium brands." Pernod- Ricard is expecting organic growth of 8% to 10% in operating profit over the next year.