Pernod Ricard has seen sales in the US slow in its first half, as retailers in the country reduced their stock.

In a trading update today (13 January), the wine and spirits company said that its overall sales performance in the six months to the end of June had been "satisfactory", with organic growth estimated at around 5% year-on-year.

While the emerging markets of China, India and Eastern Europe delivered "strong growth", the US proved problematic for Pernod, while both Spain and South Korea encountered "difficulties".

Full details of the company's first-half performance will be released on 13 February.

For the full-year to the end of June, Pernod said it expects organic growth in profit from recurring operations to come in around 8% up on the year before, with group net profit from recurring operations expected to hit double-digit growth.

In October, Pernod posted a 13% rise in sales for its first quarter to the end of September, totalling EUR1.76bn (US$2.30bn). All four of the company's regions delivered growth in the quarter, driven by the Americas, with a climb of 9%. Europe was up by 7%, while Asia/Rest of the World climbed by 7%. The company's home market of France inched up 1% in value terms.