French drinks company Pernod Ricard, owners of Irish Distillers, said today core wine and spirits sales and added Americans were still buying its brands despite fears they might boycott French goods.
French drinks company Pernod Ricard, owners of Irish Distillers, said today core wine and spirits sales and added Americans were still buying its brands despite fears they might boycott French goods.
The world's third-biggest spirits group beat expectations with core wine and spirits sales rising 10.6 per cent to €713 million, pushing its shares up around five per cent.
Including Wednesday's opening gain, shares in the group have climbed 14.5 per cent this year as investors have bought into its qualities as a defensive haven.
CEO Mr Patrick Ricard told Le Figarothe company had not felt the impact of a threatened boycott against French groups in the United States over France's opposition to the war in Iraq.
"We received fewer than 400 emails from consumers telling us they would boycott our brands," he said, adding the boycott threat was the work of a "vocal minority".
Analysts had warned that currency effects and the war in Iraq were likely to weigh on sales in the United States which accounts for nearly one quarter of total turnover.
The company known for its Chivas Regal, Jameson and Bushmills whiskies as well as Martell cognac and Havana Club rum, left guidance over its 2003 performance for later in the day when it holds its AGM.