Ricard said at the latest board of directors' meeting that expanding its mix of spirits brands spirit brands such as Stolichnaya, which led organic sales volume growth for the company, with an increase of 19 per cent, was key to future growth.

"The dynamism of our brands, the strength of our distribution network and the good start of the new financial year in July and August, in particular for the premium brands allow us to begin the 2008 financial year with confidence," he stated. "Based on current market conditions and on a like-for-like basis, our guidance is a further year of strong growth in Pernod Ricard sales and operating profit from ordinary activities in the 2007 to 2008 financial year."

Full year sales were up 9.1 per cent for Pernod Ricard in 2007 as the group expanded its presence in spirit and wine production with the continued integration of Allied Domecq's brands into its portfolio.

Sales gains made through it 15 core beverage brands helped drive a 21 per cent rise in operating profit.

The company said that the continued focus on its key wine and spirits brands in particular had allowed it to tap into the growing global market for the products.

Operating margins also improved by 1.8 percentage points to 22.4 per cent for the six month ending 30 June, over with the continued integration of the assets from 2005's acquisition of Allied Domecq.

The group said improved marketing spend, especially during the second half of the year, also led to improved sales volumes of its major brands including Beefeater, Havana Club, and Jacob's Creek wine.

As well as improving income, the company said that it had also managed to improve its expenditure for the whole year.

The company's divestment of Allied Domecq's Dunkin Brands alone, a global bakery and coffee arm, led to a reduction in debt of about €400m for the group to €6.5bn, as it continued to streamline its operations.

In the group's French homeland, and indeed throughout Europe as a whole, full year sales growth resulted in a 12 per cent increase in operating profit for the region .

While its Ricard brand, a traditional summer beverage for French consumers, achieved only stagnant volumes growth during the period due to weather conditions, France overall posted strong growth for the company's sales.

The group's brands in Germany and Italy also underwent strong volume growth.

In terms of regional highlights, Pernod Ricard said that is was particularly encouraged with its performance in the emerging markets of Eastern Europe, particularly for Russia and Poland.

The two countries alone contributed a combined €640m in operating profit, the company said.

Asia similarly also contributed to strong growth for the group, which along with its rest of the world segment were the primary drivers for growth with operating profit up 39 per cent, the company said. Through its American operations, operating profit increased by 21 per cent.