PARIS, July 26, 2007 (AFP) - Heavy demand for wines and spirits in emerging markets, notably in Asia, is putting pep into profits at Pernod Ricard, the French drinks group said on Thursday.

Pernod Ricard reported that sales rose by 6.2 percent in its last financial year and that growth of current net profit for 2006-2007 would slightly exceed the target of 20 percent.

But the price of shares in the group was showing a fall of 4.06 percent to 154.39 euros in early afternoon trading.