FRANCE: Rémy Cointreau sees sales rise
Rémy Cointreau has posted a slight lift in sales for the nine months to the end of December.
The French drinks company said today (17 January) that published growth of revenues in the nine-month period was 3.3%, hitting EUR630m (US$925,4m). Like-for-like growth for the group was 7.9%.
The group's Rémy Martin Cognac brand performed well, the company said, with a "top of the range product mix" in Asia, particularly in China and Singapore, as well as Europe, which is still being driven by Russia, together with France and Benelux. Consumer demand in the US remained good in a business environment marked by caution, the company noted.
The performances of Piper-Heidsieck and Charles Heidsieck Champagne brands were described as "excellent", as they largely offset the deliberate decline in low added value unbranded Champagnes. Europe and the US were the main drivers for the Champagne division.
Turning to liqueurs and spirits, Cointreau recorded satisfactory growth, particularly in the UK, France and Scandinavian countries. Metaxa, Passoa and Mount Gay Rum "continued to develop strongly" in their respective major markets.
The company concluded by confirming its guidance of "significant organic growth in operating profitability" for its fiscal year to the end of March.
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