Pernod Ricard blames UK for dip
Published:  17 September, 2010

Pernod Ricard has reported “persisting difficulties” in the UK market in its results.

The Jacob’s Creek, Absolut and Beefeater producer described its international performance as “sound”, with 8% sales growth in emerging markets.

But in Europe, excluding France, profits from recurring operations fell by 3% in the year to June 30, principally due to trading difficulties in the UK and Spain.

Global full-year sales totalled €7,081 million (excluding tax and duties), a decline of 2%.

The company said it had also been hit by exchange rate issues and restructuring costs, mainly created by the disposals of Wild Turkey, Tia Maria and Bisquit and the termination of Stolichnaya distribution.

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