Remy Cointreau 1Q Sales Rose; Backs Outlook for 2022-23

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By Giulia Petroni

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Remy Cointreau SA said Tuesday that sales rose in the first quarter of its fiscal year with a positive performance across brands, and confirmed guidance for 2022-23.

The French drinks group reported sales of 409.9 million euros ($418.8 million) in the three months to June 30 from EUR293.1 million the year earlier. On an organic basis, sales rose 27% on year.

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The company said it benefited from strong activity in the US and continued recovery in the Europe, Middle East and Africa region, as well as a rebound in China.

Remy Cointreau said it expects to register strong growth in the full year, with an improvement in the current operating margin driven by a resilient gross margin despite inflation and by control over overhead costs.

It also said it foresees a positive currency effect of between EUR90 million and EUR100 million on sales and of between EUR50 million and EUR60 million on current operating profit for 2022-23.

Write to Giulia Petroni at [email protected]

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Credit: www.marketwatch.com /

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