The maker of Martell cognac and Mumm champagne handed investors a 17% dividend hike.

For the year ahead, Pernod – the world’s second-biggest spirits group behind Britain’s Diageo – forecast further profit growth in spite of an uncertain geopolitical and monetary climate. It gave no further details.

Pernod Ricard predicted a “very strong” first quarter, saying it would benefit from a low comparison base in India where it has faced setbacks including a ban on liquor outlets.

It also forecast a boost in the July-September period from an earlier Mid-Autumn Festival in China, where it banks on a thirst for premium drinks from a fast rising middle-class.

Pernod Ricard forecast underlying profit growth from recurring operations of between 5% and 7% for the full year ending June 30, 2019.

This would compare with the 6.3% rise achieved in the 2017/2018 financial year, when profits came in at 2.358 billion euros (US$2.70 billion), – in line with an average forecast of 2.36 billion euros in an Inquiry Financial poll for ThomsonReuters.

Sales growth for the 2017/2018 full-year accelerated to 6% from 3.6% the previous year, spurred by a 17% jump in China, 14% in India and 4% in the United States.