Pursuits
Pernod Forecasts Currency Boost as Third-Quarter Sales Rise
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Pernod Ricard SA, the maker of Chivas Regal whisky and Martell cognac, forecast a bigger profit boost from favorable currency movements after third-quarter sales beat analysts’ estimates, helped by the later Chinese New Year.
Exchange rate shifts including the stronger dollar will boost profit from recurring operations by 180 million euros ($192 million) this year, Pernod said Thursday, raising the forecast by 40 million euros. Revenue gained 7 percent in the three months through March on an organic basis. Analysts expected 4.7 percent growth, according to the median of estimates compiled by Bloomberg News.