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FRANCE: First-half profits soar at Rémy Cointreau

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Rémy Cointreau has posted a huge leap in net profit for the six months to September.

The French Champagne and spirits group said today (8 December) that net profit for the half-year to 30 September soared by 130% year-on-year, reaching EUR42.9m (US$50.47m). Turnover was up by 4% organically - to EUR397.8m.

The increases were credited to price increases, the refocusing of marketing investment and the control of costs. Rémy Martin Cognac, Cointreau and Piper-Heidsieck Champagne performed strongly in the US and in Asia-Pacific, the company said.

Rémy's liqueurs & spirits unit, buoyed by growing Cointreau sales in the US, saw operating profit grow 20.9%. Operating profit for its Cognac division grew by 11.4% to EUR31.8m.

Rémy's restructuring of its Champagne business, through the phasing out of secondary brands in favour of Piper-Heidsieck and Charles Heidsieck, led to growth in operating profit in line targets, the company said. Operating profit for the unit came in at EUR1.7m.

The company confirmed its outlook of double-digit organic growth in operating profit on ordinary activities for the 2005/06 financial year.


Sectors: Spirits, Wine

Companies: Cointreau

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