Yesterday morning, the company’s shares had fallen by 6.26% to €98.05 after it announced that turnover to the end of September had risen by 10% to €3.644 billion, below the average forecast of €3.720 billion. The fall in share price came in spite of the fact that the group reiterated its full-year profit targets. Some analysts said they felt it unlikely that the group would meet its full-year sales target of €3.6 billion.
FRANCE: Pernod shares slide after downgrades
Shares in the French wines and spirits group, Pernod Ricard, fell by more than 6% yesterday following downgrades by analysts after the company reported below-forecast nine-month sales figures.