April 29, 2020 / 8:38 AM / a month ago

BRIEF-Remy Cointreau expects H1 2020/21 operating profit to be under pressure - CFO

April 29 (Reuters) - Remy Cointreau SA Luca Marotta tells analysts:

* EXPECTS Q2 FY 2020/21 TO BE STILL NEGATIVE IN TERMS OF SALES BUT LESS THAN Q1 - CFO

* EXPECTS FULL YEAR 2020/21 TO BE A YEAR OF PROGRESSIVE SALES ACCELERATION WITH STRONG VOLATILITY BETWEEN QUARTERS - CFO

* EXPECTS H1 2020/21 OPERATING PROFIT TO BE UNDER PRESSURE - CFO

* CFO SAYS GROUP BALANCE SHEET IS VERY SOLID, CAPEX HAVE BEEN REDUCED

* GROUP WORKING ON COST REDUCTION, INCLUDING REDUCNG A&P ON NON STRATEGIC SPENDING, INCREASE FOCUS ON DIGITAL, HIRING FREEZE, NO SALARY INCREAES. Source text for Eikon: Further company coverage: (Reporting By Dominique Vidalon)

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