Market Commentary and Intraday News
News Summary: Pernod Ricard's profit rises 10 pct
292 days ago
By The Associated Press
BOTTOMS UP: French beverage company Pernod Ricard's annual profit increased 10 percent as its focus on Asia and premium brands delivered its best results since the global economic crisis began in 2008.
CHEERS: The company behind Absolut vodka and Mumm champagne said that revenue grew 7 percent to (EURO)8.2 billion ($10.3 billion). Its net profit of (EURO)1.1 billion was slightly below analyst expectations of (EURO)1.2 billion, however.
WHISKEY SOUR: Asia posted growth of nearly 30 percent, offsetting sluggishness in western Europe where income from recurring operations fell 2 percent, dragged down by crisis-hit countries like Spain, Greece and Italy.
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