The group recorded for the first half of its 2008-2009 fiscal year, net earnings increased 26.7% to 48.3 million. Remy Cointreau has benefited from growing markets in emerging countries.
The group of French wines and spirits Remy Cointreau announced Tuesday an increase in net income for the first half 2008/2009 (ended September 30) and confirmed its outlook for the full year.
The group recorded a net profit up 26.7% to 48.3 million. However, earnings from operations of Remy Cointreau is down 4.7% to 62.5 million euros and its operating margin, which increased to 17.1% against 17.5% a year earlier.
For the entire fiscal year (ending 31 March 2009), the group confirmed that it did not "anticipate organic growth of its current operating income." Already announced in late July, these prospects are explained by the "temporary additional costs related to network distribution of Remy Cointreau.
The group several months ago announced his decision to leave the company (joint venture) Maxxium. This output will be effective at 30 March 2009. Meanwhile, Remy Cointreau rises partnerships for its main markets. "The first half was marked by improved profitability of champagne, good progress cognacs very high quality and sustained growth in business in emerging markets, including China and Russia," said the group in its release.
If "developments in more mature countries like the UK and Germany, remained satisfactory," the United States in revenge "stalled in the second quarter," said Remy Cointreau.
Regarding the cognac, Remy Martin has been "the best gains in China and throughout Southeast Asia, both in volume and value," said the group. It is also true in Russia where "the trend remained strong." Earnings from operations for cognac spring to 41.8 million euros, up 3.5% (16.6% in comparable data).
For spirits and liqueurs, earnings from operations is losing ground to 21.4 million euros (-17.7%). The current operating margin, which increased to 21.2% against 25.5% a year ago, "reflects the lower weight sales of Cointreau, high-margin brand, in a North American market more morose."
As champagne, Piper-Heidsieck and Charles Heidsieck record "good progress in Japan, Australia and several major European markets (United Kingdom, Germany)," according to the group. Earnings from operations quadruple to 2.8 million euros, against 0.7 a year earlier, partly because of rising prices.
The group of French wines and spirits Remy Cointreau announced Tuesday an increase in net income for the first half 2008/2009 (ended September 30) and confirmed its outlook for the full year.
The group recorded a net profit up 26.7% to 48.3 million. However, earnings from operations of Remy Cointreau is down 4.7% to 62.5 million euros and its operating margin, which increased to 17.1% against 17.5% a year earlier.
For the entire fiscal year (ending 31 March 2009), the group confirmed that it did not "anticipate organic growth of its current operating income." Already announced in late July, these prospects are explained by the "temporary additional costs related to network distribution of Remy Cointreau.
The group several months ago announced his decision to leave the company (joint venture) Maxxium. This output will be effective at 30 March 2009. Meanwhile, Remy Cointreau rises partnerships for its main markets. "The first half was marked by improved profitability of champagne, good progress cognacs very high quality and sustained growth in business in emerging markets, including China and Russia," said the group in its release.
If "developments in more mature countries like the UK and Germany, remained satisfactory," the United States in revenge "stalled in the second quarter," said Remy Cointreau.
Regarding the cognac, Remy Martin has been "the best gains in China and throughout Southeast Asia, both in volume and value," said the group. It is also true in Russia where "the trend remained strong." Earnings from operations for cognac spring to 41.8 million euros, up 3.5% (16.6% in comparable data).
For spirits and liqueurs, earnings from operations is losing ground to 21.4 million euros (-17.7%). The current operating margin, which increased to 21.2% against 25.5% a year ago, "reflects the lower weight sales of Cointreau, high-margin brand, in a North American market more morose."
As champagne, Piper-Heidsieck and Charles Heidsieck record "good progress in Japan, Australia and several major European markets (United Kingdom, Germany)," according to the group. Earnings from operations quadruple to 2.8 million euros, against 0.7 a year earlier, partly because of rising prices.
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