Spirits giant Pernod Ricard posted fizzing sales for the first quarter after the return of international holidays has spurred spending in pubs and bars.
Sales grew 22 per cent, as the Absolut vodka maker raked in €3.3bn in revenue, surpassing its forecasts.
Tourists spending cash at bars and restaurants had boosted trade in Europe, following the return of demand for international travel after the Covid-19 pandemic.
Despite a trading environment that “remains challenging and volatile,” the company “continues to actively invest” in being uniquely competitive and in ways to “fuel our future growth,” Pernod Ricard chairman and CEO Alexandre Ricard said.
The world’s second-biggest wine and spirits seller said it marked double-digit growth across all spirits categories.
Its strategic international brands saw growth leap 12 per cent, due to popularity in the Scotch category.