By Kim Richters
Remy Cointreau SA said Thursday that earnings for fiscal 2022 increased and it expects strong sales in the first quarter of the current fiscal year.
The French cognac maker said net profit for the fiscal year ended March 31 was 212.5 million euros ($226.3 million), up from EUR144.5 million the year-prior period.
Current operating profit came in at EUR334.4 million compared with EUR236.1 million. As previously reported, total sales rose to EUR1.31 billion from EUR1.01 billion.
The company proposes to pay an ordinary dividend of EUR1.85 a share in cash and an exceptional dividend of EUR1 a share to be paid in cash or shares.
For fiscal 2023, the company said it continues to aim to win market share in the exceptional spirits sector and forecasts strong growth.
“In particular, Remy Cointreau is forecasting strong first-quarter sales despite a very high base effect and the impact of the Covid-19 pandemic in China,” it said.
It also confirmed financial and non-financial guidance for fiscal year 2030.
Write to Kim Richters at kim.richters@wsj.com
This article was originally published by Marketwatch.com. Read the original article here.
