French liquor giant Pernod Ricard has had an excellent year, especially in China, and wants to build on that through a major acquisition and a new distillery.
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Pernod Ricard has started its financial year 2018-2019 well, but the world's second biggest producer of spirits warns that the second half of the year will not be as outspoken.
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Pernod Ricard, the second largest beverage group in the world, saw substantial growth last year thanks to China and India. Profit however remains below expectations due to higher prices of raw materials.
In the first half of its fiscal year, French liquor group Pernod Ricard achieved a turnover and profit increase, mostly thanks to its excellent Asian sales and the performance of its Jameson whisky brand.
French liquor manufacturer Pernod Ricard saw its third quarter turnover drop 3 %, because of negative exchange rate fluctuations and lower Chinese demand, as the Chinese New Year fell earlier this year.
Liquor manufacturer Pernod Ricard has signed a deal to acquire gin Monkey 47's majority of shares. The German gin brand has to provide additional growth in the increasingly popular gin segment of the market.