PARIS, Nov 26 (Reuters) - Spirits group Remy Cointreau
said on Thursday it had achieved better-than-expected
first half profits despite the global COVID-19 pandemic, and
predicted a strong recovery in the second half driven by China
and the United States.
For the 2020/21 full year, the maker of Remy Martin cognac,
Cointreau liqueur and Mount Gay rum forecast "positive"
like-for-like current operating profit growth, following a 22%
profit slump the previous year.
Group current operating profit for the six months to Sept.
30 reached 106.2 million euros ($126.6 million), marking a
like-for-like decline of 22.5%, as cost controls helped to limit
the profit decline.
This was better than a company-compiled consensus of 18
analysts which had forecast current operating profit of 101.1
million euros, down 26.1% on a like-for-like basis.
($1 = 0.8386 euros)
(Reporting by Dominique Vidalon;
Editing by Sudip Kar-Gupta)