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."
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