PARIS(Reuters) – Pernod Ricard said it now expected organic profit growth of around 16% for its 2020/2021 fiscal year, up from a previous April forecast of 10%, as the French drinks group was enjoying a stronger-than-expected recovery.
“Demand is accelerating as restrictions are progressively lifted,” the group said in a statement on Wednesday.
The owner of Mumm champagne, Absolut vodka and Martell cognac had said during an investor presentation on Tuesday that it was confident about its prospects in Asia, helped by cognac and Scotch whisky demand in China.
(Reporting by Benoit Van Overstraeten; Editing by Sudip Kar-Gupta)
