UPDATE 2-Remy Cointreau confident on China after strong Q2 [Reuters]
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Source: Reuters
Remy Cointreau confident on China after strong second-quarter | Reuters 3 Min Read PARIS (Reuters) - French spirits maker Remy Cointreau ( RCOP.PA ) beat second quarter sales expectations on Friday and said it had seen no slowdown in China, a market that helped power demand for its Remy Martin cognac. The maker of Mount Gay rum also kept its forecast for higher profit growth this year. Finance chief Luca Marotta told analysts he was “OK” with market estimates for a 13.5 percent rise in full year 2018/19 current operating profit at constant exchange rates and scope. Markets are on edge over trade tensions between Beijing and Washington and its knock-on effect on Chinese consumers, whose appetite for branded goods has supported a luxury industry rebound over the past two years. But Marotta said the group was “very satisfied” with demand in China during the Mid-Autumn festival, which he said “gives us a huge amount of confidence over the third quarter”. Remy Cointreau, which makes the
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