Sales of Martell Cognac (part of the Pernod Ricard group) are keeping in line with the other big three cognac houses as new profit figures are released for the first part of the year.
The demand for cognacs and other luxury goods in Asian countries and other emerging markets are helping this boost, and Pernod Ricard have announced an 11 per cent rise in total profits for the first quarter. Despite all the global turmoil and currency fluctuations, this has exceeded the Bloomberg estimate of 6.3 per cent.
Despite this, rumours continue to abound about whether or not Pernod Ricard will make a bid for all or part of Beam Inc. The company continues to concentrate on reducing its debt, and is also focusing on sales to the strongly emerging markets to hold up the more traditional, flagging markets of Europe and the United States.