At the end of August, Pernod Ricard released results from its most recent fiscal year, the 12 months to the end of June. Sales in the period were up by almost 4% on the corresponding period a year earlier, breaking the EUR9bn barrier for the first time. Here, industry commentator Richard Woodard considers Pernod Ricard's performance over the past five years and looks at what lessons the wider wine and spirits industries can learn from the group's recent history.