Pernod fuels fresh concern as profit misses estimates

Pernod Ricard SA, the world's second-largest distiller, said a recent improvement in the Chinese spirits market is unlikely to last as the company reported full-year profit slightly below analysts' estimates.

The market in China continues to decline at a "high single-digit" pace, Chief Executive Officer Alexandre Ricard said in an interview on Thursday, sparking concern over business in Asia, where Pernod gets more than a third of revenue.

"Given the recent volatility, we are still expecting some further decline in the short-term," he said.