Pierre Pringuet: “The Year of the Recovery”

Dear Client: "In Pernod Ricard's zodiac 2010-2011 will be the year of the recovery," said chief Pierre Pringuet in the company's first half results (July 1 to Dec 31) presentation this morning. "This is reflected in the sharp increase in sales and results, strong deleveraging and we've decided to revise our annual guidance upwards with an objective of 7% growth." Volumes for the total US spirits market grew 3% in Nielsen-tracked channels and 2% in NABCA-tracked channels. [Editor's note: Recall