French spirits group Pernod Ricard posted a forecast-beating rise in 2002 earnings on Wednesday thanks to a year's help from its new Seagram brands but gave no 2003 guidance, citing geopolitical uncertainty.
Shares in the world's third biggest spirits group after Britain's Diageo and Allied Domecq leapt as much as 7.3 per cent at the open, outpacing weaker sector peers.
Chairman Mr Patrick Ricard said Pernod's year had started well.
"2003 has started strongly, but in the uncertain geopolitical and economic situation, we will reserve guidance on performance to the shareholders' meeting," he said in a statement. That meeting takes place on May 7th.
The company that leapt into the big league in December 2001 when its Seagram acquisition doubled its size, said 2002 net profit climbed 15 per cent to €413 million ($436.7 million) versus 358 million a year earlier.