FRANCE: Pernod posts 10% nine-month sales gain
Consolidated sales at Pernod's wines and spirits division rose by 77% to €2.30 billion for the first nine months. The company reported that currency exchange had a €25m negative impact on sales, principally attributable to the weakness of the Argentine peso.
Sales from Seagram brands reached €939m, while sales from Pernod's existing products rose by 3.9% to €1.36 billion.
The overall nine-month sales figure came in slightly below the average of analysts' forecasts for around €3.70 billion. Sales for the quarter fell by 4.4% to €1.09 billion; analysts had been predicting around €1.16 billion.
However, Pernod Ricard confirmed its forecast for a twofold increase in operating profit for the full 2002 fiscal year, with an operating margin for the year of 20% and an EPS of €6.4.
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Pernod Ricard and Fortune Brands are hoping to buy Allied Domecq for around 670p per share, according to press reports....
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