Remy Cointreau : H1 2019-20 earnings lower than expected
>H1 2019-20 current operating profit below forecasts due to holding costs - Rémy Cointreau this morning reported its H1 2019-20 results. Current operating profit came in at € 138.3m in H1, missing expectations by 3.5%. The current operating margin thus came to 26.4% (vs 26.2% in H1 2018-19 and 27.4% expected by the consensus). In organic terms, current operating profit is down 4.7% y-o-y (vs -0.6%e).The unpleasant surprise came mainly from much higher than expect...Remy Cointreau is an operator in the global wines and spirits market. Co. produces, markets and distributes Cognac, Liquors and Spirits and other non-group brand alcoholic beverages. Co.'s primary cognac brand is Remy Martin, produced from Petite Champagne and Grande Champagne eaux-de-vie. Co.'s principal liquor and spirits include the following brands: Cointreau, Passoa, Metaxa, St Remy, and Mount Gay. Co. also operates a distribution network that handles products from partners and third-party companies. Major non-group products distributed by Co. include Scotch Whiskies (Edrington brand), Champagne (Piper-Heidsieck and Charles Heidsieck brands) and Vodka.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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