INTERVIEW-Pernod Ricard execs cautiously optimistic

Thu Sep 10, 2009 11:11pm BST
 
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* Pernod USA CEO sees "considered spending" by consumers

* Says concentrating marketing on top brands

* Finance director says won't sell assets too cheaply

By Martinne Geller

NEW YORK, Sept 10 (Reuters) - The U.S. arm of spirits group Pernod Ricard SA (PERP.PA) is cautiously optimistic about the new fiscal year and is concentrating its marketing on core brands as consumers begin to spend a little bit more.

Meanwhile, its French parent company is hoping to raise 300 million euros by selling brands following last year's big acquisition of Absolut vodka, but it will not be pressured to sell too cheaply, a senior executive said.

"We are confident that we can go on selling remaining assets at the right price," said Gilles Bogaert, Pernod's managing director of finance. "What is key is that we'd prefer not to sell assets than sell at too low a price."

Bogaert said the company, which vowed to raise 1 billion euros through asset sales to help pay down its debt, is not under pressure in the very short term, although it aims to complete the sales in a "reasonable period of time."   Continued...

 

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