The group’s nine-month net sales declined organically by 2%, a figure which increase to a 1% decline with the exclusion of Russia.

In the Americas, Q3 sales and year-to-date sales both fell by 7%. This downturn was driven the US market where sales plummeted by 11% in Q3 as Pernod continues to adjust trade inventories in the region.

Asia proved something of a mixed bag. India saw sales gains of 8% lead by strong performances of Jameson, Absolut, The Glenlivet and the Seagram’s whisky brands led by Royal Stag and Blenders Pride.

China however saw sales slump by 12% in Q3 due to what the group described as a “challenging macroeconomic environment”.

With the exclusion of Russia, Europe proved to be largely stable, showing a 4% sales increase in Q3 and a 1% year-to-date increase.

While the continued return of global travel retail paid dividends, here the group saw 38% growth in Q3 with strong performances of Jameson, Martell and Scotch brands.