Rémy Cointreau posted strong Cognac sales in the US

Rémy Cointreau posted strong Cognac sales in the US

Rémy Cointreau has posted a healthy jump in year-to-date sales as Cognac sales remained strong despite the later Chinese New Year.

Total sales rose by 17.5% to EUR964.4m (US$1.29bn) in the nine months to the end of December, with Remy's own brands up by 20.6%, the Paris-headquartered company said today (17 January). Sales of its Rémy Martin brands increased by 12.4% in the same period, as super-premium Cognac in Asia continued to grow, Rémy said.

Cognac sales in the US were also buoyant while Remy's liquor and spirits posted “strong gains” in the country, it said. 

The results build on already strong comparisons from the same period last year when Cognac sales drove an 18% overall sales growth. Net sales in H1 were up by 13.3% compared to a year prior.

Today's results included a full quarter of sales of Bruichladdich, which Remy bought last year for about US$90m.

Remy confirmed in November its objective of significantly increasing its full-year earnings.

Shares in the company were up about 3% in early trading.

To read Remy's official statement, click here.