PARIS (Reuters) - French spirits maker Pernod Ricard (PA:PERP) posted lower-than-expected third-quarter sales on Thursday, reflecting a still challenging Chinese market.
The world's second-biggest spirits group, whose view on China appears to differ from the more upbeat tone of rivals such as Remy Cointreau (PA:RCOP), said it remained confident in the country's medium-term potential.
Pernod Ricard posted sales of 1.855 billion euros (1.4 billion pounds) in the three months to March 31, up 1.0 percent year-on-year on a like-for-like basis and marking a slowdown from 4 percent growth in the second quarter.
This was below the average of analysts' estimates of 1.3 percent growth in a Reuters poll.
The owner of Mumm champagne, Absolut vodka and Martell cognac kept its forecast for underlying operating profit growth of between 1 percent and 3 percent in the full year to June 30.