Shares in Pernod Ricard SA, the world's second-largest liquor maker, fell the most since July in Paris trading after it reported its smallest profit increase in three years. Pernod dropped as much as Eu3.74, or 6%, to Eu58.26 after it revealed that net income rose by only 1% to Eu840m (£668.48m) in the year through June. The drinks producer said it had been held back by costs to buy the Absolut vodka brand and slowing demand for premium spirits. Managing director Pierre Pringuet said: “It is very difficult, though we are not seeing a global crisis.” `The maker of Mumm champagne and Chivas Regal scotch plans to boost sales of its most profitable beverages in regions such as eastern Europe and Asia, where increased wealth is fueling demand for imported spirits. Pernod became the second-biggest spirits seller in the US with June's takeover of Absolut maker Vin & Sprit AB. Annual operating profit dropped to Eu1.44bn and annual sales gained 8.7%. Pernod raised its annual dividend by 5 percent to Eu1.32 a share.