India has emerged as a key source of resilience for French spirits maker Pernod Ricard SA, helping the company limit a quarterly sales decline as demand remained subdued in the US and China, Bloomberg reported on October 15.
The maker of Absolut vodka and Martell cognac reported a 0.9% year-on-year drop in organic net sales for the fiscal first quarter, according to a company statement. The decline was narrower than the 1.24% fall estimated by analysts. The company retained its medium-term outlook, signalling confidence that growth can recover despite continuing market challenges.
