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Remy Cointreau lifts profit view on US tariffs deal
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Remy Cointreau lifts profit view on US tariffs deal
Aug 29, 2025 12:11 AM

Aug 29 (Reuters) - French spirits maker Remy Cointreau

on Friday raised its full-year 2025/26 profit outlook,

citing a lower-than-anticipated blow to its business from U.S.

tariffs of 15% agreed last month on European Union imports.

Sales have slumped in Remy Cointreau's key U.S. and Chinese

markets in recent years, forcing the company into multiple

guidance downgrades and to scrap medium-term sales targets. It

said in June, though, that the worst was over.

Remy said on Friday it now expects a net impact of 20

million euros ($23.41 million) from U.S. tariffs on its current

operating profit for the 2025-2026 fiscal year, down from 35

million it estimated previously.

The estimated hit from Chinese tariffs of 10 million euros

remained unchanged and Remy now expects an overall blow from

global tariffs of 30 million euros, down from 45 million it

estimated previously.

As a result, the maker of Remy Martin cognac now expects

an organic percentage decline in full-year 2025-2026 current

operating profit of mid-single-digit, an improvement from the

mid-to high-single-digits percentage it previously anticipated.

The company makes around 70% of its sales from cognac,

mostly in the U.S. and China, leaving it more exposed to tariffs

and economic downturns than more diversified rivals.

On Thursday, rival Pernod Ricard also revised down to 80

million euros its annualised ($93.66 million) impact from

tariffs imposed by the United States and China, against 200

million previously.

($1 = 0.8542 euros)

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