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
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