Pernod looks to organic growth

French spirits group Pernod Ricard said it was confident about its growth prospects after strong Asian markets lifted its 2010-11 annual earnings and helped defy a fragile global economy.

The world’s second-largest spirits group after Diageo said the start of the new fiscal year confirmed the resilience of its markets thanks to brands like Absolut vodka and Martell cognac, and strong demand from emerging countries. Pernod ruled out major acquisitions as it continues to focus on debt reduction.