date:Jun 09, 2014
nown for its Rmy Martin cognac, has been among those hardest hit by Chinese President Xi Jinping's anticorruption drive. The move has undermined the long-standing tradition of gift-giving and fancy dining which had previously propelled sales of Rmy's pricey cognacs.
Sales in the full year fell to EUR1.03 billion, a 11% drop on a comparable basis, which strips out the impact of exchange rates, acquisitions and disposals.
Operating profit fell 39% to EUR150.2 million, at the high end of the rang