Pernod Ricard, France's largest distiller, reported first-half earnings that beat estimates as sales in markets including China, Russia and the US offset declines in southern Europe and France.
Operating profit, excluding some items, rose 5.8 per cent to €1.46 billion in the six months through December, from €1.38 billion a year earlier.
The Irish Distillers brand Jameson whiskey showed strong growth in the first half of the year, rising by 13 per cent in sales and 7 per cent in volume. In the US, Jameson was one of the main drivers of growth, rising by 24 per cent.
That success was also evident in Ireland, where Jameson continued to top the whiskey market.
The company said there were a number of "encouraging" brand and category performances throughout the year in the Irish market, with gin and rum showing significant growth. The Malibu brand performed particularly well, recording 50 per cent growth. Havana Club, meanwhile, grew by 22 per cent.
Overall, group sale in Europe for the Pernod Ricard portfolio showed an ongoing "bipolarisation", Pernod said, as demand improved in Russia and western and southern Eur- ope, including Spain, stayed challenging. - (Bloomberg)
