Remy Cointreau first half profits beat expectations, keeps outlook

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For the full year of 2022/23, the maker of Remy Martin cognac and Cointreau liqueur reiterated it expected another year of strong organic sales growth, with the second half set to reflect a return to normal consumption trends after two years of “exceptional growth”.

Group current operating profit for the six months to Sept. 30 reached 319.3 million euros ($333.1 million), marking an organic rise of 27.2%.

That outperformed a company-compiled consensus of 22 analysts that forecast current operating profit of 306 million euros, up 23.8% like-for-like.

Remy Cointreau’s fiscal year starts on April 1 and ends on March 31.

($1 = 0.9587 euros)

(This story has been correced to fix the figure to 319.3 million euros from 318.3 million in third paragraph)