PERNOD: “SUCCESSFUL INTEGRATION IN LINE WITH EXPECTATIONS.”

Pernod Ricard boasted strong 2nd quarter results “due to the dynamism of its original premium brands and a rapid and successful integration of Allied Domecq.” The first-half net profit rose 51% while organic sales increased 4.5% thanks to Chivas (13%), Jameson (12%), The Glenlivet (10%) and Martell (9%). Gross margin rose to 61.3% from 60.1% and consolidated sales jumped 67% to 3.27 billion euros, mostly due to strong growth in Asia. The company predicts a 10%-15% earnings increase for the year. "Pernod delivered a strong first half, led by outstanding growth in its core premium brands and a stronger-than-expected first-half contribution from Allied-Domecq," said a Morgan Stanley analyst.