Sep 10 - The U.S. is still a ‘premium’ market for alcohol sales according to the head of Pernod Ricard Pierre Pringuet.
One economic indicator we can all enjoy alcohol the business of selling champagne whisky gin and wine is more or less recession proof. But bookings still buy premium brands in these tough times joining me now for latest -- our economy 2000 series is the CEO. Never cart here and get a very good to talk to you you just had your latest results and we saw sales were up. Some -- your best growth in four years in fact in the latest results. That had to -- to solid demand in Asia now as you know the big worries that China is slowing so what is your concern about that impact on your business. Well possible. We have very good results as you as you said in an 8% in sales in mind to something recurring profit slipped 10% to net profit. But thanks and that's where I grew old group and if one market is doing well is is US. And you hope to grow more in the US correct in terms of expanding your presence that suits me. And this is the result of console to invest in behind them vote on extending over distribution network. But also in the nation I think innovation would be the key -- But the US also is not out of the woods in terms of its economy there are concerns about a slowdown that might even be in fact more stimulus from the Federal Reserve. So how can you bank on the US's having had strong growth platform Korea. Well what I could say that's possible -- -- market is doing very well. And this is the confirmation of the throne which plaudits on eighteen months ago. Another good sign for that is that people are going back to the on Friday and is as always excellent content so yes for the immediate future we remain very confident. How Western Europe by knowing your latest results Europe was very much divided Eastern Europe saw some growth Western Europe struggling. How much further do you expect sales to fall in Western Europe. Well globally there is clear differentiation between emerging market than. East and Europe definitely don't be so market. And the mature market on the last week boosted in the growth from the -- market lost a step aside so it's so it's significant. Having said that three knowing what's in Europe. We consider the tournaments and humid but for obvious reasons regarding the management of -- that. Right. In for some particular it was interesting because there was this excise tax that did. Affects sales -- any fears that we'll see some of these Western European nations. Impose additional taxes to try to increase revenues is that -- -- risk going forward for you. Well it is a risk. But we don't see any selling that's that this is so. Something which would spread around the world and particularly with new sign of this continuous. And when used you emphasize that the US does that mean you'd like to move away from the emerging markets a little bit in terms of your future growth. Not we want to capture growth wherever it is and you know the US market is very attractive because possible ways that they premium market earnings. They're getting very open to innovation and -- introducing. The constant -- playing relations told DC you're. Fifteen new parts would be introduced in these markets. So that's the biggest risk to your business next year right here that you're planning to grow and things -- well but I must ask you what is it that you worry about what what might slow things down. What might be the one problem the have to face. Well I think. The deal when they think people in England obviously. It is the evolution of U Rizzo -- only -- remain very confident that's the right decision would -- night. Maybe could be the late but you know we have one currency but 27. Different numbers for the -- AppleTV the difficulty. I'm just curious so what's your favorite cocktail. My favorite -- so when he from the toy. Before lungs that from the cubicle. And often do you know could be -- -- -- the -- pretty day it's been great talking to you thanks so much. I've got shot there this is writers.