FRANCE: Champagne bubbles at Rémy
Buoyant Champagne sales have added some fizz to its first-half results from Rémy Cointreau.
The French group said today (19 October) that revenues for the six months to 30 September had inched up 1.3% to EUR354.4m (US$445.2m).
Rémy's Champagne stable, including Piper-Heidsieck, saw sales leap almost 11% to EUR53.4m thanks to growth in the US and Japan.
The company also saw sales rise from its Cognac, liqueurs and spirits brands. Cognac sales rose 4.2% to EUR155.8m as the company's Rémy Martin brand "consolidated" its position in the super-premium segment.
Among liqueurs and spirits, Rémy enjoyed rising sales of Cointreau in the US and Passoa in France.
However, the performance of Rémy's partner brands - from its membership of the Maxxium venture - weighed on the first-half figures.
Rémy said that sales of Scotch whisky and Californian wine were up but that the decline in overall sales was due to the end of distribution deals this during the first half.
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