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Rémy Cointreau FY19 Pro Forma Net Profit Up; Proposes Exceptional Dividend

Rémy Cointreau (REMYF.PK), a French wine and spirits company, reported Thursday that its fiscal 2019 net profit (Group Share), on a pro forma Pre-IFRS 15, 16 & 9 basis, increased 6 percent to 157.1 million euros from last year's 148.2 million euros. The latest net profit on a Post-IFRS 15, 16 & 9 basis was 159.2 million euros.

Excluding non-recurring items, net profit (proforma) was 167.8 million euros, compared to 151.3 million euros last year.

The company's full-year proforma Current Operating Profit was 263.6 million euros, a growth of 11.3 percent on a reported basis and up 14.2 percent organically.

The proforma current operating margin reached 21.7 percent at the end of March, an organic increase of 1.3 points.

Sales on a pro forma basis increased 7.9 percent to 1.22 billion euros from 1.13 billion euros a year ago. Sales increased 7.8 percent organically with very strong performance of the Group Brands.

On a Post-IFRS 15, 16 & 9 basis, sales were 1.126 billion euros.

Further, the company said it will propose a dividend of 1.65 euros per share at the Annual General Meeting on July 24, stable compared to last year.

The Board of Directors has also decided to propose an exceptional dividend of 1.00 euros per share for 2019.

Looking ahead, in the short term, Rémy Cointreau anticipates that 2020 will unfold within the framework of its medium-term objectives.

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