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Pernod Ricard Profit Growth Outlook Lags Expectations

Published on Aug 30 2018 10:30 AM in Drinks tagged: spirits / Pernod Ricard / Paywall / Profit Outlook

Pernod Ricard Profit Growth Outlook Lags Expectations

French spirits maker Pernod Ricard has predicted lower than expected profit growth in the current financial year, briefly knocking its shares to a four-month low.

The group, whose brands include Absolut vodka and Jameson whiskey as well as the aniseed liqueur from which it draws its name, saw underlying profit growth from recurring operations of between 5% and 7% for the year ending 30 June 2019, below consensus expectations of 7.4%.

Its shares fell as low as €135, their lowest since April, before recovering to be down 0.3% at €137.95 by 9.47am (GMT) on Wednesday.

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