UPDATE: Ricard Sees Fiscal Year 09 Revenue +9%; Profit Growth At Low Range End

French beverages company Pernod Ricard SA (RI.FR) Friday said it expects revenue for its fiscal year ended June 30 to rise by about 9%, supported by the integration of Sweden's Vin & Sprit.

Pernod said in a statement that organic revenue growth should by close to flat, hindered by a "negative foreign exchange effect of around 2%."

The group added that its fourth-quarter sales trend improved, in line with its expectations, declining 3% on an organic basis.

Pernod also said it still expects profit from recurring operations, which excludes its acquisition of Vin & Sprit, to grow between 3% and 5% in the fiscal year ending June 30, but said it will be at the lower end of the range.

Including the acquisition of Vin & Sprit, net profit from recurring operations will grow "slightly in excess of 10%," Pernod said, also supported by an average cost of debt maintained below 5%.

Pernod added that sales growth "slowed down over the second half" due to the "overall decline in consumption, as well as to destocking by wholesalers and distributors, which primarily occurred over the third quarter."

Pernod Ricard said overall the group's performance was "highly satisfactory" considering a "difficult economic environment."

Pernod also said that in the fourth quarter, its operations in China and India continued to grow strongly while other markets were contrasted, with difficult situations in Ireland, Italy, South Korea and Japan.

The group also recorded growth in France, Australia, Sweden and Canada.

In April, the company launched a capital increase through which it raised EUR1 billion to try and cut the debt it partly built up with last year's $8 billion acquisition of Sweden's Vin & Sprit AB, parent of Absolut Vodka.

Pernod Ricard sold its Wild Turkey bourbon to Italy's Davide Campari SpA (CPR.MI) for $575 million in April.

Pernod Ricard will publish detailed earnings figures for its fiscal year Sept. 3.

Company Web site: www.pernod-ricard.com

-By Alice Dore, Dow Jones Newswires; [phone]; [e-mail]