French drinks company Pernod Ricard said its revenue rose 2% in the last quarter, as sales in the US offset difficulties in Europe and slowing growth in Asia.
The company behind Jameson whiskey, Absolut vodka and Mumm champagne said today that it brought in €1.7 billion in the third quarter, missing consensus expectations. Pernod Ricard's fiscal year ends in June.
Pernod Ricard makes most of its money in emerging markets and the US, and it has weathered Europe's crisis fairly well. But it is beginning to see growth slow.
Sales in Asia, Africa and the Middle East were down 3% in the third quarter, as China's consumption hit a bump. Sales in the Americas, which account for nearly a quarter of revenue, rose 1%.
