Rémy Cointreau: H1 sales down 16%
(CercleFinance.com) - Rémy Cointreau has posted H1 2024-25 sales of E533.
7m, down 16.2% (-15.9% organic), with a sharp decline in the Americas (-22.8% organic) due to destocking effects.
In this trading update, the spirits group adjusted its targets for FY 2024-25, now anticipating a double-digit decline in sales on an organic basis (compared with a gradual recovery over the course of the year, previously).
Regarding its operating margin before non-recurring items, the group expects organic deterioration to be partially offset by a cost-cutting plan of over E50m (rather than 'protection of profitability').
Copyright (c) 2024 CercleFinance.com. All rights reserved.
7m, down 16.2% (-15.9% organic), with a sharp decline in the Americas (-22.8% organic) due to destocking effects.
In this trading update, the spirits group adjusted its targets for FY 2024-25, now anticipating a double-digit decline in sales on an organic basis (compared with a gradual recovery over the course of the year, previously).
Regarding its operating margin before non-recurring items, the group expects organic deterioration to be partially offset by a cost-cutting plan of over E50m (rather than 'protection of profitability').
Copyright (c) 2024 CercleFinance.com. All rights reserved.