Weak China Hurts Pernod Ricard's Quarter

French spirits group Pernod Ricard announced first quarter underlying sales below market expectations on Thursday, with revenues hit by persistent weakness in China. The world's second-biggest spirits group behind Britain's Diageo was cautious for the current year, predicting growth in underlying profit from recurring operations of between 4 and 5 percent for the year ending June 30, 2014. (Reuters)