February 8, 2019 / 8:44 AM / 10 days ago

Pernod defends its performance in light of new Elliott criticism

FILE PHOTO: Bottles of aniseed-flavoured Ricard are displayed during a news conference by French drinks maker Pernod Ricard in Paris, France, on August 29, 2018. REUTERS/Christian Hartmann/File Photo

PARIS (Reuters) - Drinks group Pernod Ricard defended its performance and strategy on Friday, in the light of renewed criticism of the company from activist fund Elliott.

A spokesman for Pernod Ricard told Reuters that results this week showed the effectiveness of the company’s strategy plan.

Pernod vowed on Thursday to improve profit margins and shareholders’ returns in a new three-year strategy plan, as it reported forecast-beating first half operating profits.

Elliott has built a stake of just over 2.5 percent in the company.

Reporting by Pascale Denis; Editing by Kirsten Donovan

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