By Nick Kostov

French spirits group Pernod Ricard posted a 1% rise in third-quarter underlying sales on Thursday, helped by a strong performance in its top U.S. market and improving demand in Europe.

The world's second-biggest spirits group behind the U.K.'s Diageo however said sales had slowed in Asia because of the later date of the Chinese New Year this year and India's demonetization drive.

The owner of Mumm champagne, Absolut vodka and Martell cognac kept its forecast of a rise of between 2% and 4% in full-year profit from recurring operations, after last year's growth of 2%.

For its fiscal third quarter ended March 31, Pernod Ricard reported sales of 1.99 billion euros, a like-for-like rise of 1%, in line with the consensus of analysts.

Write to Nick Kostov at nick.kostov@wsj.com

(END) Dow Jones Newswires

April 20, 2017 01:45 ET (05:45 GMT)

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