Pernod Ricard toasts rising sales

Rising sales are good news for Pernod boss Patrick Ricard

Pernod Ricard has seen sales rise 66% rise following its purchase of Allied Domecq, but its shares in Paris fell as investors failed to toast its outlook.

The world's second biggest drinks firm said sales for the second half of 2005 hit 3.3bn euros (£2.3bn).

Shares in Pernod Ricard fell by more than 5.5%, with analysts unimpressed by the firm's earnings forecast.

The maker of Jacob's Creek Wines and Jameson whiskey saw sales rocket in the booming economies of China and India.

Chasing Diageo

The firm also did well in the Americas, where Pernod said it had benefited the most from its acquisition of Allied Domecq.

Pernod bought Allied Domecq last year as it sought to make up ground on Diageo, the world's largest drinks company.

The purchase added Ballantine's whisky, Beefeater gin, Malibu, Kahlua and the Mumm and Perrier-Jouet champagne brands to its drinks cabinet.

Pernod confirmed that it expected to make cost savings of 300m euros as a result of the deal.