Pernod predicts slow Asian profit growth

City A.M. Reporter
PERNOD Ricard yesterday predicted a slowdown in profit growth in the current year after slowing Asian demand for Martell cognac and Scotch whiskies dragged quarterly sales below forecasts.

The world’s second-biggest spirits group behind Diageo predicted a rise in underlying profit from recurring operations of close to six per cent in the year to 30 June 2013, a slowdown from nine per cent in fiscal 2012. Chief executive Pierre Pringuet said he expected the full year to follow the trend seen in Pernod’s first quarter through September.