PARIS (Reuters) – French spirits maker Pernod Ricard, which is being targeted by activist investor Elliott, said it was now expecting annual profit growth at the top end of its expectations, despite a slowdown in sales growth in the third quarter.

FILE PHOTO: A logo is seen on a bottle of the Ricard aniseed-flavoured beverage displayed during French drinks maker Pernod Ricard news conference to announce the company annual results in Paris, France, August 29, 2018. REUTERS/Christian Hartmann

Pernod, which owns Mumm champagne, Absolut vodka and Martell cognac, said that for its 2019 financial year it was now targeting an organic rise of around 8 percent in profit from recurring operations, at the top of its guidance of 6-8 percent growth given back in February.