By Olivia Bugault

Pernod Ricard SA said Wednesday that a U.S. decision regarding refund of import taxes will have a positive impact on its profitability this year.

"On Aug. 23, 2021, the U.S. Court of Appeals for the Federal Circuit rendered their decision in favor of the National Association of Manufacturers," the French drinks group said. "As a result, Pernod Ricard can claim drawback upon eligible spirits exported from the [U.S.]," it said.

Pernod Ricard therefore expects to book additional pretax profit of $163 million in the U.S. this year, including $33 million of profit from recurring operations, it said. It represents an additional organic growth of roughly 1% this year, the company said.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

August 25, 2021 02:31 ET (06:31 GMT)

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