Profits fall at Jameson maker Pernod Ricard as global demand wanes

Profit from current operations in the first six months until the 31st of December reached €2.14bn, representing an organic decline of 3%, but marginally better than analysts' expectations of a 5.1% decline.

Jameson maker Pernod Ricard warned that sales would flatline this year after a challenging first six months, but is hoping for improved demand in key Chinese and US markets from the second half.

The world's largest spirits maker said full-year organic operating profit would grow at a low, single-digit rate, adding that strict control over costs would drive margin expansions.