PARIS, March 27 French drinks group Pernod
Ricard expects full year 2013/14 underlying operating
profit in Asia to record a low single digit decline, with demand
in China, its second-largest market, seen likely to stay weak
The forecast was included in slides available on Pernod
Ricard's website ahead of a conference call on Asia at 1300 GMT.
Like rivals Diageo and Remy Cointreau,
Pernod has been hit by a government crackdown on luxury
gift-giving and personal spending by civil servants in China, as
well as by slowing economic growth in the world's second-biggest
Pernod Ricard makes 12 percent of sales and 15 percent of
profits in China, its second-biggest market after the U.S.
Asia makes around 40 percent of group sales and 46 percent
of annual profits.
Pernod's fiscal year ends on June 30.
(Reporting by Dominique Vidalon; Editing by Andrew Callus)