IDG pays Pernod €74.6m

IDL paid a dividend of €74.6 million to parent company Pernod Ricard for the financial year to June 2011, according to a report in the Irish Times which stated that the payment was made through an Irish-registered company called Comrie Ltd which owns 92.89 per cent of IDG.

The company made paid over €74.3 to the end of the previous financial year, June 2010.

These payments are thought to reflect the highly profitable nature of IDG through its Irish whiskey brands particularly Jameson, as IDG remains a private unlimited company which does not publish any financial information about its business activities here. At 3.4 million cases, sales of Jameson were up 17 per cent.

According to Comrie, IDG and related entities have been valued at €4.18 billion, making it the company’s main financial asset.
Pierre Pringuet, the global head of Pernod Ricard, is listed among the directors and with no employees registered, Comrie recorded profits of €74.6 million for the year to the end of June 2011, paid to Pernod Ricard via a dividend on November 30th.

This almost entirely reflected the value placed on IDG and related companies, reported the Irish Times.

Sign Up for Drinks Industry Ireland

Get a free weekly update on Drinks Industry trade news, direct to your inbox. Sign up now, it's free