just The Preview - Remy Cointreau Q4 & FY
Remy reports it full-year results on Thursday
- In February, the company confirmed to just-drinks that it is looking to up its presence in India's high-end spirits market, through a partnership with Sula Vineyards.
- Also in February, Remy launched an extenstion of its Mount Gay rum brand in the US – Black Barrel.
- At the end of the month, its Scotch whisky distillery acquisition from last year, Bruichladdich, revealed it has switched to a 24-hour, five-day-a-week production schedule since the takeover.
- The company is among those likley to be feeling the pain of a crackdown on state banquets in China, an analyst suggested last month. China accounts for around 30% of the group's EBIT.
In Remy's nine-month results:
- Total sales rose by 17.5% to EUR964.4m (US$1.29bn)
- Sales of Remy's own brands were up by 20.6%
- Profits were not detailed
In first-half results:
First-half net profits rose by 83% to EUR86.6m (US$108.3m)
Net sales in H1 were up by 13.3% to EUR595.8m
Operating profits jumped by 18% to EUR141.5m
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