It's some time since Irish Distillers was a fixture on the Irish stock market, the shares de-listed when acquired by French drinks grouping Pernod Ricard. The Irish division continues to perform well for its French parent, annual results released this week showing a 20 per cent increase in IDG"s profits to £59 million with turnover surging to £760 million, an increase of £144 million over the previous year.

Buoyant sales of the Jameson premium whiskey brand was one of the main reasons behind the solid performance. IDG also benefitted from the swings and roundabouts of fluctuating foreign exchange values, the group coming out £21 million ahead on translations. Chief executive, Richard Burrows is pessimistic on the future of duty-free but the group will continue building up its duty-free presence in Asia and North America. Jameson is particularly reliant on duty-free which accounts for 10 per cent of its sales.