Pernod Ricard to Book Higher 2021 Profit After US Decision on Import Taxes Refund
25 August 2021 - 4:39PM
Dow Jones News
By Olivia Bugault
Pernod Ricard SA said Wednesday that a U.S. decision regarding
refund of import taxes will have a positive impact on its
profitability this year.
"On Aug. 23, 2021, the U.S. Court of Appeals for the Federal
Circuit rendered their decision in favor of the National
Association of Manufacturers," the French drinks group said. "As a
result, Pernod Ricard can claim drawback upon eligible spirits
exported from the [U.S.]," it said.
Pernod Ricard therefore expects to book additional pretax profit
of $163 million in the U.S. this year, including $33 million of
profit from recurring operations, it said. It represents an
additional organic growth of roughly 1% this year, the company
said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
August 25, 2021 02:31 ET (06:31 GMT)
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