date:Nov 27, 2013
French spirits group Remy Cointreau SA warned full-year operating profit would fall by at least 20 percent as a Chinese government crackdown on ostentatious spending hurts demand for its premium cognac.
Its shares plummeted more than 10 percent to a near two-year low.
The maker of Remy Martin cognac, Cointreau liqueur and Mount Gay Rum said wholesalers in China were still running down high inventories and it did not know when demand could pick up, with sales prospects for the Chinese New Year