FRANCE/CHINA: Remy Cointreau's China performance "critical" for Q2 - analyst
Remy will report Q2 and H1 numbers on Thursday
In a note published earlier today (15 October), analysts at UBS said that they expect "continued strength in the US" and "weak trading to continue in Western Europe," when the French group reports second-quarter numbers on Thursday. But, it added that the focus will be on whether the Chinese economy has slowed.
Analysts Kepler last month said that sales growth of Cognac is tailing off in China, with companies expected to report a temporary slowdown.
In its note today, UBS noted that Remy said in July that China was remaining strong for the group. But the note added: "UBS estimates that China represents over 30% of Remy EBIT, therefore comments on China current trading (and inventory levels) will be critical."
Ever since Remy Cointreau put up the best part of US$90m for independent Islay distiller Bruichladdich last year, the Scotch industry has been wondering who's next in line for acquisition....
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