Pernod Ricard raises full year forecast on Asian demand for premium liquor

Pernod Ricard ups outlook as revenue grows

PARIS — Pernod Ricard SA is raising its earnings expectations thanks to Chinese and Indian demand for premium liquor and after fiscal third quarter revenue rose 14 percent.

The Paris-based company, known for its anise-flavored aperitifs as well as Beefeater gin and Chivas Regal cognac, said Thursday that revenue in the January to March period rose to euro1.54 billion ($2.04 billion) from euro1.35 billion a year earlier.

Pernod Ricard CEO Pierre Pringuet said in a statement that the full year outlook has improved. He now expects profit from recurring operations to increase by 3 percent, compared to the previous target of between 1 and 3 percent.

The strongest growing brands in the quarter were Martell cognac, Jameson whisky and Absolut vodka.