Recession takes fizz out of Remy earnings

PARIS: Remy Cointreau SA, France's second-largest liquor maker, said full-year profit fell 13 percent as fewer US consumers bought premium cognac and champagne.

Net income in the 12 months through March dropped to 86.1 million euros ($121.3 million) from 98.4 million euros a year earlier, the Paris-based distiller said yesterday. The earnings beat the 84.7-million-euro average of nine estimates compiled by Bloomberg.