Remy Cointreau H1 Profit Surges, Upgrades FY22 View - Quick Facts

French wine and spirits company Remy Cointreau (REMYF.PK) reported Thursday that first-half net profit attributable to the Group climbed 106.1 percent to 134.0 million euros from last year's 65 million euros.

Earnings per share were 2.67 euros, up from 1.30 euros last year.

Adjusted net profit was 148.2 million euros or 2.95 euros per share, compared to 65.2 million euros or 1.31 euros per share last year.

Current operating profit grew 100.4 percent on a reported basis to 212.9 million euros. The current operating margin rose 8.3 percentage points to an all-time high of 33 percent.

Rémy Cointreau generated consolidated sales of 645.3 million euros in the first half, up 49.8 percent from 430.8 million euros last year. The growth was 52 percent on an organic basis.

The performance reflects continued excellent momentum in China and the United States as well as a strong recovery in Europe.

Looking ahead for financial year 2021-22, Rémy Cointreau anticipates strong organic growth in sales, mainly driven by performance in the first half.

On the back of stronger than expected first-half results, Rémy Cointreau is upgrading its full-year guidance and is now targeting very strong organic growth in Current Operating Profit. The company previously expected strong growth in current operating profit.

The company now expects to see an organic improvement in its current operating margin.

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