Pernod Ricard has announced an estimated 3% net sales, like-for-like, decline in sales for the first half of its fiscal year, ending December 31, 2009. It states there was an improved second quarter with a 2% decline, after a 4% decline in the first quarter.
Spirits fared better than its portfolio of wines and champagne.
The dynamism of China and India along with the first signs of recovery in South Korea and duty free meant Asia overall looked positive.
Europe remains “difficult” although France was holding up and trends in eastern Europe are improving. Pernod sees no signs of economic recovery in the US.
The company predicts a 1% to 3% growth in profit for the full year, 2009/10. Final and detailed results for first half Fiscal Year 2009/10 will be released on Thursday February 18.