Remy Cointreau released a FY trading update yesterday

Remy Cointreau released a FY trading update yesterday

In a trading update yesterday, Remy Cointreau posted marginal organic sales growth for its fiscal full year, but reported sales dropped by 6%, Here, just-drinks takes a closer look at the company's sales performance by region and brand in the 12 months to the end of March.

Regions

  • Asia Pacific

The region saw a mid single-digit decline in the full year, while China showed "positive trend inflection", Remy said.

Sales in Greater China were down by high single-digits in the full-year, the company added, and there was further destocking in the first half of the fiscal year. The second half showed "strong growth" but was driven by low comparatives.

Meanwhile, there were "positive trends" in Travel Retail and North-East Asia, driven by double-digit growth in Japan.

  • Americas

There was "strong growth" in the region, led by "accelerated trends" in the US, Remy said. US shipments rose by high single-digits.

  • Europe, Middle East & Africa

The region posted low single-digit growth for the full year, while Western Europe had a slow start in H1, but better trends in H2. France and Germany were flat for Remy Cointreau brands and in the UK sales were up low single-digits for the firm's brands, after "a slow start", the company added.

Belgium and Switzerland posted "good growth" and Central Europe grew double-digits, led by "strong momentum" in Czech, Slovakia, Poland and Turkey, Remy said.

Africa saw double-digit shipment growth but there were "slower trends" in Russia/CIS in H2 because of a "wait-and-see attitude" from wholesalers, according to Remy.

Russian depletions were down by mid single-digits over the full year and there was a low single-digit decline for Rémy Martin, Remy said. Meanwhile, Travel Retail saw a "strong performance", the company added.

Brands

Remy Martin posted an organic 2% sales decline but a 3% reported sales increase in the full year. In Greater China, the brand's shipments were back to growth, Remy said, and there was a "strong performance" in Travel Retail and Japan. In the US, Remy Martin's volume depletions grew at high single-digit/low double-digit pace.

Cointreau posted high single-digit growth led by an "excellent performance" in the US, Japan, Greater China and Africa, Remy said. There was, however, "ongoing softness" in Western Europe, the company added.

Metaxa saw "solid growth" in Germany and in Central Europe, offset by weakness in Russia and in Travel Retail, Remy said.

Mount Gay found "healthy growth" in the fiscal year in its key markets the US, Barbados, UK and Travel Retail, Remy said

Bruichladdich sales nearly doubled in the year, St-Rémy had "solid growth" led by Canada, Africa and Travel Retail, while Passoa posted a "healthy performance" in France, UK and Scandinavia with weakness in the Benelux countries, Remy added.