November 22, 2018 / 6:33 AM / 23 days ago

Chinese thirst for cognac lifts Remy Cointreau H1 profits

PARIS, Nov 22 (Reuters) - French spirits group Remy Cointreau posted a 10.1 percent rise in first-half like-for-like current operating profits, helped by robust demand for its premium cognac in China and by a tight rein on costs.

The maker of Remy Martin cognac, Cointreau liqueur and Mount Gay rum said it was keeping its forecast for growth in its 2018/2019 current operating profit at constant exchange rates.

Current operating profit for the six months to Sept. 30 reached 138 million euros ($157.25 million).

This compared with a company-compiled consensus of 19 analysts which forecast current operating profit of 135.1 million euros, and like-for-like growth of 10.3 percent.

$1 = 0.8776 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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