TFF Group : FY 2019-20 results in line with our expectations – Caution on FY 2020-21
>FY 2019-20 sales of € 279.7m (vs € 279.1m est.) and underlying operating profit of € 43.7m (vs € 43.2m est.) - TFF Group yesterday evening reported FY 2019-20 results (to end-April) in line with our forecasts. Sales came in at € 279.7m, up 3% of which -1.3% l-f-l, +1.3% currency effect and +3% scope effect following the integration of Darnajou (10 months). This growth is mainly underpinned by the brisk momentum over 9M 2019-20 (+6.6%), whilst Q4 was marked by a decli...Tonnellerie Francois Freres S.A.. TFF Group, formerly Tonnellerie Francois Freres SA, is a France-based company that manufactures and distributes oak barrels that are used to conserve and transport liquids. The Company has four core businesses: stave milling, cooperage, cask manufacturing and oak wine-aging products. Tonnellerie Francois Freres SA also offers oak products for oenology, where the wine is put in contact with wood in varied forms, and has developed products for the alcohol maturing and aging market, especially the whisky market. The Company offers four brands of barrels: Exclusif, Privilege, Classique and Horizon. As of December 31, 2011, Tonnellerie Francois Freres SA operated through its subsidiaries, including: Sogibois, Bouyoud, Treuil, Francois Inc, Classic Oak New Zealand, Demptos Napa, among others. The Company has operating units in France, the United States, Spain, Hungary, South Africa, China, New Zealand, Australia and Ireland. In May 2016, the Company acquired metal manufacturer SAS Lejeune.
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