Sniff of a whisky bid at perky Pernod

WINES and spirits group Pernod Ricard's profits grew nearly 6% in the first half of the year, helped by strong performances at its Jameson, The Glenlivet and Chivas Regal whiskies.

The three brands' showing strengthened speculation that Pernod would be a highly serious bidder for up-for-sale Glenmorangie. JP Morgan has been recruited by the France-based drinks group to run their bidding campaign.

While the company declined to comment on the bid process, it is known to have been encouraged by its premium-end whiskies.

Asia and North and South America were the two principal drivers of the group's profits for the half-year, while a strong increase in advertising and promotion of its key brands also fuelled sales growth.

The company is suffering tough conditions in its native France, where the economic malaise has combined with a clampdown on drink-driving to dampen booze sales. Sales increased there but only after increased promotional spending ate into profits.

Pre-tax profits in the half-year to June were €229m (£156.6m) against €243m a year earlier on sales down from €1.58bn to €1.56bn.

In Britain, sales jumped 6% with a resilient performance from Jacob's Creek wines, which held up in the cut-throat market for big branded wines.