FRANCE: Remy Cointreau figures hit by US dollar
Remy Cointreau has seen its revenue hit by the weak US dollar. The French drinks company today announced a fall in revenue of 12% for the nine months to 31 December.
Remy Cointreau said revenue for the nine-month period dropped to €702.9m (US$888m) from €799.1m year-on-year. Analysts's estimates for the period had been €724m.
At constant currency rates, revenue actually grew by 0.6%.
Although the company did not reveal Q3 sales from October to December, Dow Jones Newswire calculated revenue for this period to have fallen by more than 10% to €288.2m from €321.6m.
The French company is due to release its next earnings statement, covering the year to 31 March, on 10 June.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Remy Cointreau is looking to restructure its Champagne business, according to local reports....
Remy Cointreau has had its investor rating raised....
Remy Cointreau has posted a drop in full year net profit in spite of increasing revenues....
Remy Cointreau has signed a five-year credit facility for around €500m....
Remy Cointreau has gone to holders of one of its bonds to gain permission to complete the sale of its stake in Bols....
Remy Cointreau has posted a slight rise in revenue growth for fiscal year 2005....
The Polish unit of Remy Cointreau has pulled out of the race for a majority stake in Polmos Bialystok....
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