Pernod Ricard this morning said full-year sales fell 26.9 per cent to €3.534 billion from €4.836 billion a year earlier.
The company said it sees full-year net profit on ordinary operations up 5 per cent after unfavourable foreign-exchange impacts.
The company in September said it expects net profit on ordinary operations to rise 15 per cent over the full year but warned this excludes strong negative currency effects.
It said it reduced its debt in 2003, without providing further details.