Washington Post: French Liquor Purveyor Pernod Ricard Half-Year Sales up Driven by Emerging Markets
From The Washington Post:
French beverage company Pernod Ricard says strong sales in emerging markets and a rush to stock up on liquor in France before a tax increase pushed its half-year revenue up by 8 percent.
The company, known for its anise-flavored liqueurs, said Thursday that its net income rose 20 percent to €800 million ($1 billion). Sales rose to €4.6 billion.
Much of the growth came from Asia and other developing markets, where sales rose 15 percent. In Europe, revenue was stagnant.
That excludes France, however, where the company said a rush by wholesalers to “pre-buy” liquor before an excise duty increase pushed revenue up an exceptional 25 percent.
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