Fine FY20 sales, as they dropped in line with the consensus, but Q1 FY21 should ultimately be worse than expected and Q2 should show a recovery (but still negative growth). The H1 operating profit should therefore be under pressure. Remy is attractive in the mid-term, but the lack of diversification and high valuation means that we should continue to keep away from the stock at this stage.

29 Apr 2020
Scary start of next year expected

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Scary start of next year expected
Remy Cointreau SA (RCO:WBO) | 0 0 1.4% | Mkt Cap: 5,449m
- Published:
29 Apr 2020 -
Author:
Laura Parisot -
Pages:
3 -
Fine FY20 sales, as they dropped in line with the consensus, but Q1 FY21 should ultimately be worse than expected and Q2 should show a recovery (but still negative growth). The H1 operating profit should therefore be under pressure. Remy is attractive in the mid-term, but the lack of diversification and high valuation means that we should continue to keep away from the stock at this stage.