Pernod Ricard shares rise after ruling boosts profit before tax By Reuters
© Reuters. FILE PHOTO: Bottles of the Ricard aniseed-flavoured alcoholic drink displayed during French drinks maker Pernod Ricard’s news conference to announce annual results in Paris, France, August 29, 2018. REUTERS/Christian Hartmann/File Photo
PARIS (Reuters) – Pernod Ricard (PA:) shares opened higher on Wednesday after the French spirits group said it would book an additional $163 million in income before tax in its 2021 earnings.
The world’s second-biggest spirits group after Diageo (LON:) said in a statement it could make a claim on spirits exported from the United States after a U.S. Appeals Court ruled in favour of the National Association of Manufacturers on tax refunding on exported goods.
It said the ruling means it can book an additional profit before tax of $163 million of which $33 million is profit from recurring operations.
That represents about 1% of organic growth, the company said.
Pernod Ricard shares were up 1.02% in early session trading.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
He Wants to Retire in 15 Years, When He Turns 65. A Financial Adviser Weighs In.
Steven Lynch would like to retire in 15 years when he is 65. But he wants to make sure he…
MacBook Pro expected to get Apple chip
2020 MacBook Air with M1 chip Todd Haselton | CNBC Apple is holding a launch event on Monday to announce…