Pernod Profit gains in China

Paris, Feb 18 (AFP) French wine and spirits group Pernod Ricard today reported a first-half fall in profit and sales despite strong performances in China and India.

The world's number two drinks group, which markets Absolut vodka, said net earnings in the six months to December were down 2.0 per cent at 604 million euros , well below market expectations of 678 million euros.

The company also announced a 10 per cent decline in sales to 3.7 billion euros but said it was sticking to its yearly target of growth of 1.0 to 3.0 per cent in core operating earnings.

It said its operations in emerging market countries, notably China and India, remained robust, in contrast to a more challenging environment in western Europe and the United States.