FRANCE: Slipping Q4 fails to hold back Remy Cointreau sales in FY
- Full-year sales rise by 13%to EUR1.03bn (US$1.36bn)
- Remy Martin sees sales jump by 22% to EUR592.5m in year to end of March
- "Significant" double-digit growth for operating profits expected
- Q4 sales slide by 8.3%, but first three quarters deliver strong double-digit rises
Remy Cointreau posted rising full-year sales today. For the profits, we'll have to wait until June
In a trading update earlier today (24 April), the France-based company, which owns the Remy Martin Cognac brand, said that sales in the 12 months came in 13% up on the corresponding period a year earlier, hitting EUR1.03bn (US$1.36bn). The timing of the Chinese New Year, which moved from 3 February in 2011 to 23 January this year, hit sales in Asia in the fourth quarter, when total sales fell by 8.3% year-on-year to EUR205.1m.
Sales in the previous three quarters propped up the last three months of the fiscal year, however, increasing by 22.5%, 15.2% and 30.5% respectively.
For the year, Remy Martin delivered growth of 25.1% in sales values, thanks to "a continued move upmarket, thus improving the mix, accompanied by price increases - particularly in Asia - and a strong increase in volumes", the company said. Cointreau, Mount Gay rum and Metaxa all delivered value growth.
“This performance confirms the group’s strategic orientation initiated over the past years: a distribution structure, in close proximity to the markets and a growth strategy focused on the premium segment, supported by innovation with strong yet targeted investment behind our brands, in order to reinforce our long-term value strategy," said Remy Cointreau's CEO, Jean-Marie Laborde.
“This year, Rémy Cointreau has, once again, demonstrated a capacity for growth by combining the attraction of its brands and the efficiency of its distribution network. We will continue the deliberate move of our products upmarket and the quality of the work we carry out in our markets.”
The company also said that it expects to announce "significant" double-digit growth in operating profits for the 2011/2012 fiscal year.
Remy Cointreau will deliver full details of the fiscal-year performance, including profit numbers, on 12 June.
To download the company's official announcement, click here.
For Remy Cointreau's most recent set of sales and profits results, click here.
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