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Remy Cointreau H1 Current Operating Profit Stable; Mid-term Outlook Unchanged

Remy Cointreau (REMYF.PK) reported first-half net profit, Group share, of 90.5 million euros compared to 87.5 million euros, prior year. Earnings per share, Group share, was 1.82 euros compared to 1.75 euros. Excluding non-recurring items, Group share of net profit was 84.6 million euros, a decline of 5.6 percent from previous year. Earnings per share excluding non-recurring items was 1.70 euros compared to 1.79 euros. Current operating profit was stable at 138.3 million euros on a reported basis, or down 4.7 percent in organic terms. Group Brands' current operating profit improved 5.5 percent on reported basis, or up 0.8 percent in organic terms, for the period.

For the first-half, sales were 523.9 million euros, down 0.6 percent on a reported basis, and down 3.6 percent on an organic basis.

For fiscal 2019/20, Rémy Cointreau projects: slight organic growth in Group Brands' current operating profit, and stable current operating profit for the Group.

The Group's mid-term outlook remains unchanged.

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