The Financial Times’s Mudlark column takes a dig at Pernod Ricard’s financial management, noting that Allied Domecq, which it took over in late July, ended up with £7m free cash flow. Allied had forecast free cash flow of £200m in the financial year to the end of August. Mudlark says this can happen “when you rush to dismiss the people with the discipline to get a balance sheet in shape”. Financial Times (Money & Business) 17/09/05 page 4 (Mudlark)

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