Paris — On Wednesday, French spirits maker Pernod Ricard said sales and profit growth accelerated in the full year 2017-2018, driven by strong demand in China and India, as well as robust sales in the US, its top market. The maker of Martell cognac and Mumm champagne handed investors a 17% dividend hike. For the year ahead, Pernod — the world’s second-biggest spirits group behind Britain’s Diageo — forecast further profit growth in spite of an uncertain geopolitical and monetary climate. It gave no further details. Pernod Ricard predicted a "very strong" first quarter, saying it would benefit from a low comparison base in India where it has faced setbacks, including a ban on liquor outlets. It also forecast a boost in the July to September period from an earlier Mid-Autumn Festival in China, where it banks on a thirst for premium drinks from a fast rising middle-class. Pernod Ricard forecast underlying profit growth from recurring operations of between 5% and 7% for the full year en...
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