LONDON (Reuters) -Remy Cointreau reported a far smaller-than-expected fall in fourth-quarter sales on Friday, saying 'significant growth' in China helped...
LONDON - Remy Cointreau reported a far smaller-than-expected fall in fourth-quarter sales on Friday, saying "significant growth" in China helped drive performance at its cognac division well above analysts' expectations.
Analysts had been expecting it to post a 3.4% decline in organic sales in the fourth quarter, with flat cognac sales at 0.5%. Instead, organic cognac sales grew 15.4%, bringing the group-level sales decline to just 0.7%. Remy maintained its full-year guidance and confirmed it expected to achieve 100 million euros of annual savings via a cost-cutting plan, delivering a "contained decrease" in its current operating margin for the year.Momentum is underway for these two Canadian stocks, and yet both still trade at share prices that are quite low given their future growth. The post Underpriced and Overlooked: 2 Canadian Stocks Ready to Rally appeared first on The Motley Fool Canada.
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Remy Cointreau Drive Performance Organic Sales China And The United States Cognac Sales Decline
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