- Fourth-quarter sales jump 15.1%, totalling EUR242.6m (US$291.8m)
- Fiscal-2021 closes 1.8% up at EUR1.02bn
- US, China drives Cognac showing
- Margaritas at home help Cointreau
A double-digit rise in sales from the three months to the end of March has managed to pull Remy Cointreau over its full-year finishing line with a near-2% top-line lift.
The Remy Martin brand owner today reported that sales in the quarter – its fiscal Q4 – were up by just over 15% on the corresponding period a year ago. Added to the 25% jump recorded in Q3, the performance resulted in bringing the group into the black in fiscal-2021.
Remy admitted the 12-month showing was “slightly ahead of its expectations”.
Leading the way in fiscal-2021 was the ‘Americas’ reporting region, which thanks to “excellent” performance in the US, grew sales by 18.6%. Elsewhere, a triple-digit rise in Q4 from Greater China – a boast Pernod Ricard also made this week – resulted in ‘Asia-Pacific’ producing a 12-month sales decline of 4.5%. Pulling harder on the full-year top-line, however, was ‘Europe, the Middle East & Africa’, where a “fairly resilient” final three months was undone by a torrid time earlier – the region’s 12-month sales finished at -21.7%.
The US was again the group’s saviour, this time on a category basis. ‘Cognac’ – by far the company’s largest revenue contributor – had US consumers to thank for its 3.7% lift over the full year, while the Chinese New Year also had its part to play. Cognac’s sales in the three months to March jumped 18.2% in part due to the festivities.
The remainder of Remy’s owned brands, grouped in the ‘liqueurs & spirits’ reporting division, enjoyed a “sharp upturn” as fiscal-2021 progressed: Cointreau benefited from consumers moving to make their cocktails (Margaritas, in particular) at home, growing double digits in markets including Australia, the UK and the US. However, brands including Metaxa, Mount Gay rum and St-Rémy brandy were hampered by the absence of the Global Travel Retail channels throughout the year.
Looking forward, Remy said: “The group anticipates a strong start to 2021/22, supported by a very favourable base of comparison, shipment phasing benefits and structurally more buoyant consumer trends in the US.”
To access Remy Cointreau’s fiscal-2021 results announcement, click here