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France. Cut in sales also for Rémy Cointreau

Registered -4.1% in the first nine months of 2020

Rémy Cointreau achieved a turnover of 780.9 million Euros in the first nine months of its last fiscal year, which ended in December, recording a decrease of 4.1% compared to the same period of the previous year. As stated in a statement from the French alcoholic beverage owner, this sales cut is due to the impact of Covid-19 on the company's operations.

Specifically, in the third fiscal quarter, between October and December, sales increased by 25.1%, although in the first half they were down by 16.4%.
For the business lines, cognac sales decreased by 2.8% to € 572.5 million, while revenues from the rest of spirits and spirits decreased by 7.6% to € 187.2 million. Similarly, the Partner Brands area achieved a turnover of 21.2 million Euros, recording a reduction of 6.4%.

Regarding the forecasts for the whole year 2021, Rémy Cointreau said there is still uncertainty about the geopolitical, economic and public health context, although the company remains optimistic and "continues to trust its ability to come out stronger from this crisis".

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EFA News - European Food Agency