Rémy Cointreau: raises target for H1 2020-21 current OP
(CercleFinance.com) - Rémy Cointreau now expects current operating profit that is down 35% to 40% organically for the first half of 2020-21 (against a decline of 45% to 50% previously) and believes that the second half of the period "should see a strong recovery".
The wine and spirits house has unveiled sales of 150.1 million euros for Q1 2020-21, down 32.8% as reported (-33.2% in organic terms), due to the impact of the global Covid-19 pandemic.
"However, thanks to resilient consumption of spirits in the United States and the United Kingdom, the group was able to post slightly higher than expected sales," Rémy Cointreau pointed out.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The wine and spirits house has unveiled sales of 150.1 million euros for Q1 2020-21, down 32.8% as reported (-33.2% in organic terms), due to the impact of the global Covid-19 pandemic.
"However, thanks to resilient consumption of spirits in the United States and the United Kingdom, the group was able to post slightly higher than expected sales," Rémy Cointreau pointed out.
Copyright (c) 2020 CercleFinance.com. All rights reserved.