Irish whiskey big profit center for Pernod Ricard
Irish whiskey sales are thriving, so much so that the country’s biggest producer has paid over $100 million in recent dividends to its French parent.
The Irish Distillers Group, producers of big name brands Jameson, Paddy and Powers, made the dividend payment to Pernod Ricard on 2010 and 2011 sales figures.
The Irish Times reports that the payment was made through an Irish-registered company called Comrie Ltd. which owns 92.89% of IDG. The payment ... was made by the company in 2010 and 2011, according to the paper which says the figure reflects the highly profitable nature of IDG, a private unlimited company which does not publish any financial information about its business activities in Ireland.
According to the Irish Times, Comrie’s latest accounts appear to value IDG and related entities at over $5 billion, making it the company’s main financial asset.
[The full article can be accessed here.]
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Posted by William M. Dowd at 1:39 PM