Pernod’s Profit Beats Estimates on Emerging Markets, U.S.

Pernod Ricard SA, France’s largest distiller, reported first-half earnings that beat estimates as sales in markets including China, Russia and the U.S. offset declines in southern Europe and France.

Operating profit excluding some items rose 5.8 percent to 1.46 billion euros ($1.96 billion) in the six months through December from 1.38 billion euros a year earlier, the maker of Absolut vodka said today in a statement. The median estimate of 11 analysts was 1.43 billion euros. Profit advanced 1 percent on a so-called organic basis, compared with a 0.5 percent median estimate.