Remy Cointreau reports higher fiscal 2022 earnings and sees strong sales ahead

0
14

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.

Previous articleStocks open higher to kick off June
Next articleEarnings Results: GameStop reports widening loss, keeps inventories higher to sidestep supply-chain snags

LEAVE A REPLY

Please enter your comment!
Please enter your name here