Rémy Cointreau SA (REMYF)
- Reuters
UPDATE 3-Chinese cognac sales drive Remy Cointreau to Q4 sales beat
Remy Cointreau's shares rose 6.8% on Friday after it reported a far smaller-than-expected fall in fourth-quarter sales, saying "significant growth" in China helped drive a surprise uptick at its cognac division. Remy, which makes over 70% of its sales from cognacs such as Remy Martin, has been grappling with difficult conditions in its two major markets, China and the United States, forcing it to cut its full-year forecast in October. Analysts had been expecting it to post a 3.4% decline in organic sales in the three months to end-March, with flat cognac sales at 0.5%.
- Reuters
Chinese cognac sales drive Remy Cointreau to Q4 sales beat
LONDON (Reuters) -Remy Cointreau's shares rose 6.8% on Friday after it reported a far smaller-than-expected fall in fourth-quarter sales, saying "significant growth" in China helped drive a surprise uptick at its cognac division. Remy, which makes over 70% of its sales from cognacs such as Remy Martin, has been grappling with difficult conditions in its two major markets, China and the United States, forcing it to cut its full-year forecast in October. Analysts had been expecting it to post a 3.4% decline in organic sales in the three months to end-March, with flat cognac sales at 0.5%.
- Business Wire
Rémy Cointreau: FY 2023-24 sales: -19.2% on an organic basis
PARIS, April 26, 2024--Regulatory News: Rémy Cointreau (Paris:RCO) reported 2023-24 sales of €1,194.1 million, down -19.2% on an organic basis1 (+16.2% compared to 2019-20). On a reported basis, sales were down -22.9%, including a negative currency effect of -3.7%, due primarily to trends in the renminbi and the US dollar.
