Jameson maker Pernod Ricard sees decline in sales underpinned by China troubles and late Easter

Sales of the company's Strategic International Brands, which include Jameson, fell by 4% in the three months and by 6% in the year to date

Shares of Pernod fell 1.6% in early trading Thursday. The stock had fallen about 15% since the beginning of the year through Wednesday’s close. Photograph: Aidan Crawley/Bloomberg

Jameson-owner Pernod Ricard saw sales fall more than expected in its fiscal third quarter after a duty-free block hit Cognac in China while demand in Europe was held back by a late Easter.

The maker of Martell Cognac and Absolut said that organic sales fell 3%, which was worse than expected. This was largely due to duty-free sales being blocked in China since December as part of anti-dumping measures, the wider economic slowdown in the mainland and Beijing’s trade tariffs on European brandy. Declines in Germany and Spain also affected sales.