Pernod Ricard see net profits jump 12.3%

Pernod Ricard, the French drinks giant that owns Irish Distillers, today reported group net profits of €464m for 2003, an increase of 12.3% on the previous year, helped by a capital gain from the sale of bank shares and lower financial charges.

On a constant exchange rate basis, operating profit improved by 15.5%. Consolidated sales, excluding duties and taxes, amounted to €3.5bn, an increase of 5.5%, with consolidated operating profit of €739m.