logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
General Electric Co. filed a lawsuit against Siemens Energy AG, accusing the German power distribution company of stealing trade secrets for gas turbines. Siemens Energy allegedly used the information to get at least nine contracts to supply gas turbines to public utilities, and also covered up improper business gains. Following a court ruling, the U.S. Food and Drug Administration postponed the effective date for tobacco manufacturing companies to display new health warnings on cigarette packets and in advertisements, by additional 90 days. The warnings with color images is to promote greater public understanding of the negative health consequences of smoking. JPMorgan Chase & Co (JPM) reported strong results in the fourth quarter of 2020, with net profit up 42% largely driven by credit reserve releases of $2.9 billion. The Group said it ended the year with a CET1 ratio of 13.1% and capital above $200 billion, providing with meaningful capacity to further...
Follow RTT