Remy Cointreau withdraws its mid-term goals and posts lower annual profits
PARIS, June 4 (Reuters) - French spirits group Remy Cointreau RCOP.PA reported a smaller-than-expected 30.5% drop in annual organic operating profit, withdrew its mid-term goals and said sales would return to mid-to-single-digit growth during the next financial year.
The maker of Remy Martin cognac and Cointreau liqueur said on Wednesday that the lower profits reflected weak sales in its key markets of China and the United States, where the group also faces tariff threats.
Remy Cointreau, which last week named luxury goods veteran Franck Marilly as its new chief executive, said it had decided to withdraw its objectives for 2029-30, citing continued uncertainty tariffs.
Its group operating profit fell 30.5 percent on an organic basis to 217 million euros ($246.7 million) for the full year ended March 31, 2025, which compared with analysts' expectations of a 31.7% fall in a company-compiled consensus of 15 analysts.
($1 = 0.8796 euros)
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