UPDATE 3-Pernod Q1 sales beat forecast, shares climb

By Sudip Kar-Gupta and Noelle Mennella

PARIS, Oct 30 (Reuters) - French wines and spirits group Pernod Ricard (PERP.PA: Quote, Profile, Research, Stock Buzz) benefited from rising sales in the booming economies of China and India, which helped push up first-quarter revenue 6.9 percent, above forecasts.

Shares in the world's second-largest wine and spirits group jumped more than 2 percent after it said sales rose to 1.56 billion euros ($2.24 billion). A Reuters poll of 10 analysts had given an average sales forecast of 1.52 billion euros.

"These very good results enable the confirmation, in current market conditions and on a like-for-like basis, of guidance of strong growth in sales and operating profit from ordinary activities for Pernod Ricard in 2007/08", Chairman Patrick Ricard said in a statement.

"An excellent set of results showing the strength of its business model based on strategic markets with good growth potential," French brokerage CM-CIC Securities said in a research note. CM-CIC kept an "accumulate" rating on Pernod.

Shares in Pernod, whose brands include Martell cognac and Chivas Regal whisky, were up 2.3 percent at 160.68 euros in mid-morning trade. The stock was among the top gainers on France's benchmark CAC-40 index .FCHI and was at its highest level since late July.

STILL EYEING VODKA BRANDS

Drinks makers around the world have targeted fast-growing emerging markets such as China, Russia and India to boost turnover.