Clearer picture for Rémy Cointreau: +43 %
A quick review on the economic news of the French spirits group specialized mainly in cognac.
- Rémy Cointreau‘s share price has risen by 43% since the beginning of the year and is, according to Jefferies, a multiple of 55.5 times its expected earnings for the year.
- The mother company of Rémy Martin cognac recently published a turnover that exceeds the expectations of the summer quarter. There is a strong rebound in cognacs and single malt in mainland China and the United States. This means that the contraction in half-yearly results is likely to be less severe than expected.
- Rémy Cointreau’s sales for the six-month period (April-September) amounted to EUR 430.8 million. A decrease of 16.4% was noted (at comparable exchange rates and scope of consolidation). However, the decline was limited to 4% in the second quarter alone, compared with a fall of 33.2% in the first quarter. The improvement is even more marked in the case of cognacs: sales (at constant exchange rates) fell by almost 40% in April-June, and then only by 2.5% in July-September.
Sources: Capital.fr / Les Echos
Don’t drink and drive. Enjoy responsibly.
Stay tuned and discover all the news in the Spirits World for professionals and amateurs, by our Spirits Hunters’ experts.See all posts in this category.
Join the community on Reddit
Spirits Hunters is a community dedicated to spirits and the world of mixology. Feel free to talk about the world of mixology and bartending here!Join