The French drinks group, Pernod Ricard, which wholly owns Irish Distillers, has reported net profits of 504 million francs (£61 million) in the first half of the year, up 2.9 per cent from the same period last year. Irish Distillers' contribution to the results was not disclosed.

The operating result slipped by 2.4 per cent to Ffr771 million against Ffr790 million for the first six months last year.

Group chairman, Mr Patrick Ricard, said that "despite unfavourable summer weather and economic conditions in France that remain difficult", the group's goal for the year was still "to increase the current result by something on the order of twice the inflation rate".