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News
Pernod in good spirits
PERNOD Ricard has been keeping the finance pages busy this month, what with its 2004 results and rumours of an Allied Domecq bid.
PERNOD Ricard has been keeping the finance pages busy this month, what with its 2004 results and rumours of an Allied Domecq bid. First things first – those financial results.
Overall the results were impressive with a 2.1% rise in sales to €3.49bn, which reflects a 2.1% organic growth rate. It was the spirits division that proved the main driver, with Chivas Regal and Martell in particular posting strong 2004 performances, recording 12% and 7% growth respectively.
Jameson, The Glenlivet and Havana Club were also winners last year – the last enjoying a satisfying 32% growth in Germany. The only shadow, in fact, came from a drop in Australian wine sales affecting the group’s Jacob’s Creek brand and a further drop in the popularity of anis, affecting the Pastis brands, down 6% to 1.8m cases, and Ricard brands, down to 6m cases.
As for the takeover rumours reported in the UK Financial Times and other financial pages at the beginning of February, it seems the French group has retained investment bankers to look for acquisitions, with Allied Domecq, "thought to be its first choice", according to the FT.
Allied failed to comment on the situation but it appears that no approach has yet been made. "There have been no talks at the moment," one insider was quoted as saying.