PERNOD FEELS THE PAIN OF A DECLINING MARKET

In Pernod’s overall fiscal year ending June 30, sales rose 6.2% year on year, while organic growth was up 9.1%. The French company experienced a -2.8% negative foreign exchange effect, primarily due to the loss in value of the US dollar. The spirits business and wine business grew 11% and 1.3% organically for the full fiscal year. In the second half, spirits increased 9.4% and wine grew 4.5%. Favorable comparisons in both halves were related to the reduction in inventory