Remy Cointreau shares leap after full-year profit forecast raised thanks to booming China sales
Shares in Cointreau-maker Remy Cointreau swelled on Thursday after the firm hiked its full-year profit forecast.
It reported first-half results that were above expectations, following strong demand for its premium cognac in China, the United States and Europe.
Shares were up 12 per cent and hit a record high of 209.8 euros on Thursday.
Group current operating profit for the six months ended September 30 leapt 104.5 per cent on an organic basis to 212.9m euros ($238.8m), beating analyst expectations.
Chief executive Eric Vallat told reporters the firm had made an “encouraging” start to the third quarter in China, thanks to sales from the Singles’ Day online shopping occasion.