FRANCE: Cognac lifts Remy Cointreau FY sales

By | 22 April 2010

Cognac lifts Remy spirits

Cognac lifts Remy spirits

China's thirst for premium Cognac has powered Remy Cointreau to a sales rise in its fiscal full-year, despite a tough time for Champagne and a distribution overhaul.

Net sales for the 12 months to the end of March rose by 13% to EUR807.8m (US$1.1bn), compared to EUR714m for the previous year, Remy Countreau said today (22 April).

Strong demand for Cognac in Asia drove the increase, with Remy Martin sales up 28% for the year on a like-for-like basis, to EUR405.7m.   

Champagne sales slid by more than 23% for the year, to EUR96.7m from EUR125.9m, said the group.

All business divisions benefited from a lift in the final three months of the year, as distributor destocking in key markets reduced. Group sales reached EUR219m for the fourth quarter, double the previous year's total of EUR109.7m.

"In a very unsettled environment, this performance confirms the relevance of the Group’s strategy and the effectiveness of our commercial restructuring," said Remy Cointreau CEO Jean-Marie Laborde.

Remy left the Maxxium global distribution partnership at the beginning of the fiscal year.

The group announced growth in like-for-like operating profits, without releasing figures.

However, it warned of operating losses in Champagne. "The group is currently taking difficult, but necessary, steps to be in a position to rapidly restore the profitability of this division," it said.

Sectors: Company results, Spirits, Wine

Companies: Remy, Cointreau, Maxxium

View next/previous articles

Currently reading -

FRANCE: Cognac lifts Remy Cointreau FY sales

There are currently no comments on this article

Be the first to comment on this article

Related articles

GLOBAL: Drinks on ice as unemployment worse than thought - UN study

Drinks firms face a tougher consumer environment than previously thought in developed markets after the International Labour Organisation predicted that jobless rates will not return to pre-crisis levels until at least 2015.

UK: William Grant & Sons upbeat on '09 sales leap

William Grant & Sons has reported a 40% jump in sales for 2009 thanks to fresh distribution deals and investment behind its core Scotch whisky brands.

FRANCE: Piper-Heidsieck Champagne strike ends

Workers at Champagne house Piper-Heidsieck have returned to their posts after claiming victory in a dispute with parent firm Remy Cointreau.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page