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Pernod talks of tough year

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Pernod talks of tough year

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Pernod Ricard is predicting a tough year as the drinks market stagnates and says it will focus on selling assets and generating cash to reduce its debt.

The French company, which is the world’s second-largest maker of alcoholic drinks behind Diageo, posted a 21 percent rise in operating profit for the first six months of the year. That was in line with forecasts and due to growth in France, Asia and Latin America.