Dear Client: Pernod Ricard reported that fiscal 2010 first-half net income (for the six months ending December) fell 2% on 10% lower sales. Profit was 615 million euros compared with 625 million in the year-earlier half. Revenue fell to 3.79 billion euros from 4.21 billion. Revenue was hurt by 4% due to foreign-exchange effects, particularly a weaker Venezuelan bolivar and U.S. dollar. For the second half, the French market appears resilient while Western Europe broadly remains "difficult," the company said
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