Remy Cointreau FY Net Profit Rises - Quick Facts

French wine and spirits company Remy Cointreau (REMYF.PK) reported that its net profit attributable to the group for fiscal year 2020/21 was 144.5 million euros, up 27.5% from last year.

Excluding non-recurring items, net profit attributable to the Group was 148.2 million euros, up 19.4% on a reported basis. Earnings per share, excluding non-recurring items, were 2.96 euros, up 18.7% from the prior year.

Annual sales were 1.01 billion euros, up 1.8% on an organic basis at constant currency and scope and down 1.4% on a reported basis.

The company will propose at its Shareholders' Meeting on 22 July that an ordinary dividend of 1.85 euros per share be paid in respect of financial year 2020/21.

At its meeting of 2 June 2021, the Board of Directors of Rémy Cointreau decided to authorize the company's Chief Executive Officer to implement a share buyback program.

As per the authorization, an investment services provider will be instructed to purchase up to a maximum of 1 million shares of Rémy Cointreau SA, accounting for 1.98% of the share capital, at the price authorized at the Shareholders' Meeting of 23 July 2020.

The buyback program will expire no later than 8 December 2021.

The Rémy Cointreau Group has emerged stronger from the Covid-19 crisis.

For financial year 2021/22, the company said it is confident in its ability to continue to win market share in the exceptional spirits sector. The Group is anticipates an excellent start to its financial year, underpinned by very favourable base effects, shipment phasing effects, and new, structurally more buoyant consumption trends in the United States.

Being ahead in the unfolding of its 2030 strategic plan and given the favourable environment, the Group has decided to revise up its investments in communication to support its brands through the recovery and boost their medium-term growth potential by developing brand awareness and attractiveness.

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