Rémy Cointreau: FY sales down 9%
(CercleFinance.com) - Rémy Cointreau has reported FY 2019/20 sales of 1,024.
8 million euros, down 9% as reported, including a slight fall of 4% in the group's brands (-6.3% in organic terms) in a complex health environment.
Following annual sales that are slightly higher than its forecasts communicated on 2 April, the group now expects FY 2019/20 operating profit to fall by around 20% in published terms and by around 25% in organic terms.
At this stage, the group expects its sales to fall by around 50%-55% in organic terms in Q1 2020/21. However, in anticipation of a very gradual recovery in business over the second quarter, it has reopened its plants in Cognac and Angers.
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