Cointreau profits drop 30%

Remy Cointreau SA, the world’s fifth- largest liquor company, had a 30% drop in second-half profits as the company stepped up spending on cognac advertising and divested its distribution business in the Netherlands.

Net income fell to €40.9m in the six months ended March 31 from $58.4m a year earlier, Bloomberg calculations show. Operating profit will rise at least 10% this fiscal year after dropping 19% in the prior period, the Paris-based company said.