Remy Cointreau will report its full-year and fourth-quarter results on Thursday (5 June), with expectations greatly lowered after the company issued a profits warning in April. Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of March:
- At the start of January, Remy announced that its CEO, Frédéric Pflanz, was stepping down only three months after he was appointed. The role is being filled by chairman François Hériard Dubreuil on an interim basis.
- Three weeks later the group confirmed reports that the head of its Remy Martin Cognac division, Patrick Piana, was leaving the company. Eric Vallat was unveiled as Piana’s replacement.
- In February, Remy refreshed the packaging on its Mount Gay rum portfolio in the US to bring it in line with the brand’s newest variant, Black Barrel.
- Also in February, the company expanded the launch of Bruichladdich distillery’s The Botanist Islay Dry Gin into the Travel Retail channel.
- Remy Cointreau saw the biggest lift in US off-trade spirits volumes among major producers in January, according to National Alcohol Beverage Control Association data. Volumes were up by 5% over the same period last year.
In the first half of the company’s fiscal year:
- Net profits fell 20% to EUR69.3m (US$94m)
- Net sales were down 6% to EUR558m
- Operating profits slipped 6% to EUR132.7m
