Rémy Cointreau: H1 sales almost flat
(CercleFinance.com) - Rémy Cointreau has published H1 2019-20 sales of 523.
9 million euros, down 0.6% due to the group voluntarily withdrawing from some partner brands (-71.2%), while the group's brands themselves reported 6.1% growth.
In organic terms, the group's brands posted 2.8% growth: Maison Rémy Martin posted 2.1% growth, with demand remaining very strong for cognacs, particularly in China, while the liqueurs and spirits division recorded growth of 4.9%.
Rémy Cointreau expects that 2019-20 will continue according to its medium-term targets. For the record, the year will include the end of partner brand distribution contracts, which is estimated to have an impact of 56 million euros on sales and 5 million euros on underlying OP.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
9 million euros, down 0.6% due to the group voluntarily withdrawing from some partner brands (-71.2%), while the group's brands themselves reported 6.1% growth.
In organic terms, the group's brands posted 2.8% growth: Maison Rémy Martin posted 2.1% growth, with demand remaining very strong for cognacs, particularly in China, while the liqueurs and spirits division recorded growth of 4.9%.
Rémy Cointreau expects that 2019-20 will continue according to its medium-term targets. For the record, the year will include the end of partner brand distribution contracts, which is estimated to have an impact of 56 million euros on sales and 5 million euros on underlying OP.
Copyright (c) 2019 CercleFinance.com. All rights reserved.