Jameson owner Pernod Ricard forecasts smaller Covid impact on profits 

Current organic profits are likely to fall by 15%, rather than 20% which was previously forecasted 

The Jameson Distillery in Midleton: Owner Pernod Ricard expects the Covid impact on its profits to be less severe than anticipated

Shares in Jameson owner Pernod Ricard jumped on the back of the French drinks giant saying it expects its full-year profits to be less badly impacted by the Covid-19 crisis than previously anticipated.

The group – which also owns Absolut vodka and Mumm champagne – said better-than-expected supermarket and off-licence sales in western Europe and the US mean current year organic profits are likely to fall by 15%, rather than the 20% slump it had previously anticipated.