Pernod Ricard shares up as Jameson sales rise in the US
Sales of Irish whiskey brand Jameson have risen steadily in the United States in recent months, helping the firm's French parent company, Pernod Ricard, to post better than expected results.
Pernod Ricard revenues rose by 4pc in the first quarter of the company's fiscal year, well ahead of market expectations.
Shares in the company were up over 2pc in the wake of the announcement.
The company's revenues were in excess of €2.2bn for the quarter, with growth in the Americas hitting 8pc, spurred by the strong performance of Jameson.
Irish whiskey is enjoying a global revival and the brand posted double-digit growth despite the imposition of a price increase, Pernod said.
Sales in established markets topped €1.3bn.European sales grew by 6pc but the company noted that conditions in the African market were becoming more challenging.
The company said it expected further growth in the year ahead in both India and the US, with Jameson set to continue as a key driver of revenue.
Alexandre Ricard, chairman and ceo, said: "We will continue to implement our long-term growth strategy, focusing investments behind our priority brands, markets and innovations."