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Remy Cointreau first half profits beat expectations, keeps outlook

PARIS (Reuters) - Remy Cointreau reported a stronger-than-expected 27.2% organic jump in first-half operating profit, driven by strong demand for its premium cognac in China and...
Remy Cointreau first half profits beat expectations, keeps outlook © Reuters. FILE PHOTO: Bottles of Cointreau, the orange-flavoured triple sec liqueur, are displayed in the Carre Cointreau at the Cointreau distillery in Saint-Barthelemy-d'Anjou, near Angers, France, February 8, 2019. REUTERS/Stephane Mahe/File Photo

PARIS (Reuters) - Remy Cointreau reported a stronger-than-expected 27.2% organic jump in first-half operating profit, driven by strong demand for its premium cognac in China and the United States and cost controls.

For the full year of 2022/23, the maker of Remy Martin cognac and Cointreau liqueur reiterated it expected another year of strong organic sales growth, with the second half set to reflect a return to normal consumption trends after two years of "exceptional growth".

Group current operating profit for the six months to Sept. 30 reached 318.3 million euros ($332.1 million), marking an organic rise of 27.2%.

That outperformed a company-compiled consensus of 22 analysts that forecast current operating profit of 306 million euros, up 23.8% like-for-like.

Remy Cointreau's fiscal year starts on April 1 and ends on March 31.

($1 = 0.9586 euros)

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08-12-2022 09:44:46 (UTC+7)

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    EUR/USD 1.0502 ↑ Sell  
    GBP/USD 1.2188 Neutral  
    USD/JPY 136.96 Neutral  
    AUD/USD 0.6707 ↑ Sell  
    USD/CAD 1.3683 ↑ Buy  
    EUR/JPY 143.85 ↑ Buy  
    EUR/CHF 0.9892 ↑ Sell  
    Gold 1,794.85 ↑ Buy  
    Silver 22.782 ↑ Buy  
    Copper 3.8425 ↑ Buy  
    Crude Oil WTI 72.67 ↑ Buy  
    Brent Oil 77.75 ↑ Buy  
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    US Coffee C 160.00 Neutral  
    Euro Stoxx 50 3,920.90 ↑ Sell  
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    DAX 14,261.19 ↑ Sell  
    FTSE 100 7,489.19 ↑ Sell  
    Hang Seng 19,207.00 ↑ Buy  
    Small Cap 2000 1,807.83 ↑ Buy  
    IBEX 35 8,290.50 ↑ Sell  
    BASF 47.425 ↑ Sell  
    Bayer 52.80 ↑ Sell  
    Allianz 203.65 ↑ Sell  
    Adidas 117.56 ↑ Sell  
    Lufthansa 7.639 ↑ Buy  
    Siemens AG 132.90 ↑ Sell  
    Deutsche Bank AG 9.966 ↑ Sell  
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