Pernod Ricard Drinks Group Raises 2021 Profit Forecasts
The French drinks group - Pernod Ricard, of Mumm champagne, Absolut vodka and Martell cognac, said it now expects an organic profit growth of around 16% for its 2020/2021 fiscal year, up from a previous April forecast of 10%, as the company is seeing a much stronger-than-expected recovery.
"Demand is accelerating as restrictions are progressively lifted”, the group commented. The company further added that it was confident about its prospects in Asia, helped by cognac and Scotch whisky demand in China.
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