Rémy Cointreau: H1 sales down 16.4% in organic terms

(CercleFinance.com) - Rémy Cointreau has posted H1 2020-21 sales of 430.
8 million euros, down 17.8% as reported and down 16.4% on a like-for-like basis, with a significant improvement in Q2 (-4% in organic terms) relative to Q1 (-33.2%).

All major geographical areas declined over the first half, but the Americas (down 0.7% organically) enjoyed a genuine return to growth in Q2, driven by strong growth in the US.

On the back of a more favourable geographical mix than expected, Rémy Cointreau now expects underlying operating profit from ordinary activities to decline by 25% to 30% in organic terms for H1 2020-21 (compared with a decline of 35% to 40% previously).


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