FRANCE: Remy Cointreau posts loss due to Maxxium
Remy Cointreau has posted a net loss of EUR23m (US$31m) due to payments incurred by quitting its global distribution agreement.
The company said today (25 June), that its net loss figures are due to cancelling its distribution venture with Maxxium. According to the company, compensation totalling EUR241m ($324.3m) before tax for leaving the network was provided for under "other operating income and expenses" at 31 March 2007.
The French wine and spirits group said: "Taking into account this specific item, the operating loss was EUR89.6m ($120.6m) compared with a profit of EUR121.3m ($163.2m) the previous year."
The company added that it plans to: "Continue its value creation strategy and the development of its major brands in principal world markets, in order to generate significant organic growth in current operating profit."
On 31 July, the group plans to propose a dividend of EUR1.20 for approval by the shareholders, with the option of payment in shares up to 20% of the dividend, or of payment in full in cash, according to the company.
There may be many facets to a winning marketing mix, but a strong brand name that captures the consumer's imagination is clearly fundamental. Patience Gould looks at some notable hits and misses to ge...
Constellation's US$885m purchase of Fortune Brands' wine portfolio further adds to the acquisitive US company's impressive line-up. Chris Losh believes the deal makes perfect sense for Constellation, ...
Having seen a healthy 7.2% rise in shipments in 2006, the global Cognac market is set for continued growth over the coming four years, according to a new report from just-drinks, with continued progre...
Remy Cointreau has appointed a new vice president of marketing for its US distribution subsidiary....
Pacific Beverages, the joint venture between SABMiller and Coca-Cola Amatil, has acquired a brewer in Australia....
Maxxium Worldwide has unveiled a new on-trade serving suggestion for its core range of spirits....
The chairman of Remy Cointreau has confirmed that the company is set to create its own distribution company in China and South-East Asia....
Remy Cointreau has posted a healthy lift in both sales and profits in the six months to the end of September....
- Bacardi Seeks Own History at Bombay Sapphire Home
- NPD: The Craft Cocktail Revolution
- No Home Comfort for TWE as Bids Collapse
- Private-equity bids "over" - TWE head
- Interview - WoSA chief executive
- Suntory Holdings to split beer, spirits division
- Diageo's Smirnoff Sours
- Anheuser-Busch InBev appoints new AmBev CEO
- Carlsberg suspends production at Russian brewery
- Treasury Wine Estates pulls plug on takeover talks