|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||20.39 - 20.54|
|52-week range||12.80 - 21.34|
|Beta (5Y monthly)||0.06|
|PE ratio (TTM)||61.37|
|Forward dividend & yield||0.12 (0.57%)|
|Ex-dividend date||05 Aug 2020|
|1y target est||N/A|
French spirits group Remy Cointreau reported higher-than-expected operating profit growth for its 2020/21 fiscal year and was upbeat over prospects for this year and beyond. The maker of Remy Martin cognac, which plans to buy back up to 1.98% of its equity capital, said it had emerged stronger from the COVID-19 crisis and anticipated an "excellent" start to its 2021/22 financial year that started on April 1. A rebound in demand for its premium cognac in China and the United States, along with tight control over costs, lifted organic operating profit by 12.8% in the year ended March 31, beating analysts' expectations and Remy's own guidance for 10% growth.
PARIS (Reuters) -Remy Cointreau on Thursday beat annual profit expectations amid U.S. and Chinese demand for premium cognac but its shares fell after investment plans pointed to slower than expected growth ahead. The maker of Remy Martin cognac said it had emerged stronger from the COVID-19 crisis due to buoyant at-home consumption in the United States, a penchant for cocktails and rising e-commerce sales - all of which supported its push towards higher-priced spirits to boost margins. Remy Cointreau, which plans to buy back up to 1.98% of its equity capital, also handed investors an 85% increase in its dividend.
PARIS (Reuters) -Remy Cointreau on Friday gave higher-than-expected operating growth guidance for its 2020/21 fiscal year and was upbeat over prospects for this year, after rebounding demand for its premium cognac in China and the United States lifted sales at the French drinks group. In China - which accounts for around 25% of Remy Cointreau's group profit - sales scored triple-digit growth in January to March compared with a year earlier when the economy was locked down due to the coronavirus. In the United States, Remy Cointreau is benefiting from a "new paradigm" of buoyant at-home consumption, a craze for cocktails, rising e-commerce sales and consumer appetite for high-end spirits, trends that would last after the COVID-19 crisis, he added.