Pernod reports 13% sales jump in Q1

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Pernod Ricard has reported a first quarter revenue rise of 13% thanks to the strong performance of brands such as Perrier-Jouët and Jameson and the recent purchase of Absolut Vodka.

The French wine and spirits giant said sales rose to €1.76 million (£1.41 million) from €1.56 million (£1.25 million) a year ago despite tough trading conditions.

It said Absolut had enjoyed a "very good" first quarter, with growth of 2% in the US, 42% in Brazil and 23% in France amongst other markets.

Minus the gains from acquisitions, Pernod Ricard reported an overall growth rate of 7%.

Revenue was up 29% for Perrier-Jouët, 27% for The Glenlivet, 17% for Jameson, 16% for Mumm, 15% for Montana, 11% for Chivas Regal, and 9% for Havana Club and Ballantine's.

Looking ahead, the company said that it was on track to achieve its 2008/09 full-year guidance, in spite of the overall economic slowdown.

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