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Rmy Cointreau H1 Profit Down; Sees Positive Organic Growth In FY21 Current Operating Profit

French wine and spirits company Remy Cointreau (REMYF.PK) reported Thursday that its first-half net profit attributable to the Group fell 28.1 percent to 65 million euros from last year's 90.5 million euros.

Earnings per share were 1.30 euros, lower than 1.82 euros last year.

Adjusted net profit was 65.2 million euros, compared to prior year's 84.6 million euros. Adjusted earnings per share were 1.31 euros, compared to 1.70 euros a year ago.

Current Operating Profit - Group fell 23.2 percent from last year to 106.2 million euros, and current operating margin dropped 1.7 percentage points to 24.7%.

Sales for the first half declined 17.8 percent to 430.8 million euros from 523.9 million euros last year. Organically, sales declined 16.4%.

Looking ahead, Rmy Cointreau said it remains confident of its ability to emerge stronger from the crisis.

The company continues to expect a real recovery in the second half, driven by the United States and Mainland China. For financial year 2021, Rmy Cointreau is forecasting positive organic growth in its Current Operating Profit.

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