Paris —French spirits maker Pernod Ricard has predicted lower than expected profit growth in this financial year, briefly knocking its shares to a four-month low. The group, whose brands include Absolut vodka and Jameson whiskey as well as the aniseed liqueur from which it draws its name, saw underlying profit growth from recurring operations of 5% -7% for the year ending June 30 2019, below consensus expectations of 7.4%. Its shares fell as low as €135, their lowest since April, before recovering to be down 0.3% at €137.95 in early morning trade on Wednesday. Pernod, the world’s second-biggest spirits group behind Britain’s Diageo, said that it faced geopolitical and monetary uncertainties as well as pressure from higher costs of commodities such as agave for tequila and grapes for cognac. For the year ended June 30 2018 profit rose to €2.36bn after strong demand in China and India as well as robust sales in the US, its top market. The outcome was in line with an average forecast o...

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