FRANCE: Remy Cointreau FY profits boosted by Asia
- Full-year net profits leap 57% to EUR110.8m (US$138.6m)
- Sales rise by 13% to EUR1.03bn (US$1.36bn)
- Operating profits up 24.4% to EUR207.7m (US$259.9m)
- Group points to "continued rapid growth in Asia"
Remy saw its profits boosted by its performance in Asia
The France-based firm said today (12 June) full-year group share of net profits leapt 57% to EUR110.8m (US$138.6m), in the year to the end of March. In April, the group reported sales rose over the year by 13% to EUR1.03bn (US$1.36bn).
Operating profits were up 24.4% to EUR207.7m (US$259.9m), it said today.
The group, which owns the Remy Martin Cognac and Mount Gay rum brands, said the performance reflected its "buoyant business activity worldwide".
In a statement, the company said: "All regions reported growth, with double-digit growth in Asia-Pacific and the US. Europe was driven by Western Europe and Russia."
It also pointed to an "excellent performance" by its cognac division - which accounts for over 50% of annual revenue - with a 23.1% rise in operating profit to EUR173m (US$216.6m).
Looking ahead, Remy Cointreau said it is "in a good position to continue to grow its brands" and will focus on "creating value with its brands". The firm will also "continue to rely on a policy of constant product innovation, while strengthening the efficiency of its distribution network."
To view the full announcement, click here
A new trade body representing spirits producers in Europe has been established following the merger of the European Spirits Organisation (CEPS) and the European Forum for Responsible Drinking (EFRD). ...
- Brown-Forman's march on premium whisk(e)y -Comment
- Where does AB InBev see the future of beer?
- SABMiller in Cent'l & E Europe - What is for sale?
- Are consumers getting tired of consuming?
- A-B InBev and its SABMiller divestments - Focus
- Brown-Forman to buy BenRiach Distillery Co
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Molson Coors' Rekorderlig Cider Cocktails - NPD
- Carlsberg's Shed Head and Bad Apple craft - NPD
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends