PARIS: Remy Cointreau's CEO Franck Marilly said on Thursday the embattled spirits group aimed to boost operating profit by around €100 million ($116.1 million) by 2028/29 and double the size of sales in travel retail and emerging markets, under a three-year transformation plan launched in April.
The maker of Remy Martin cognac and Cointreau liqueur also reported an 11.5% drop in annual organic operating profit for the fiscal year of 2025/26 ending March 31, and predicted a return to organic sales growth and a slight improvement in current organic operating profit margin for 2026/27.
Remy Cointreau has been facing a sector-wide downturn amid soaring living costs and the impact of tariffs in its two biggest markets, the United Stares and China.
Marilly has promised to revive its performance and make the company less vulnerable to economic cycles, even if that meant cutting cognac prices to grow volumes.
Group operating profit fell 11.5 percent on an organic basis to €165.4 million for the full year ended March 31, 2026, which compared with average expectations of a 12.8% fall in a company-compiled consensus of 16 analysts.
($1 = 0.8615 euros) - Reuters
