Wine and spirits group Pernod-Ricard saw its nine-month sales rise by a stronger-than-expected 7.2 per cent helped by Chinese New Year demand for Martell cognac.
In a statement today, the French company said sales in the nine months to March 31st were €4.89 billion, an underlying increase of 10.3 per cent and above the average forecast for €4.83 billion.
Third-quarter sales rose 6.8 per cent to €1.39 billion. Stripping out negative currency effects of 4.0 per cent and a negative impact of 0.9 per cent from changes in the group's structure, Pernod said underlying third-quarter growth was 12.2 per cent, compared with an 8.3 per cent average poll forecast.
"These very good results are in line with our expectations and indicate favourable prospects for the second half of the year," chairman Patrick Ricard said in a statement.