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Sales growth slowdown continues for Remy Cointreau in YTD fiscal-2018 - results

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  • Nine-month sales rise 5.5% to EUR882.6m (US$1.1bn)
  • Cognac sales jump 11.5% in nine months to end of December
  • Third quarter sales increase by 3.2% to EUR333.6m
  • Half-year top-line was up 7%

Remy Cointreau nine months fiscal-2018 - results data

Tough comparatives in the third quarter have proved a drag on Remy Cointreau's fiscal-2018 sales growth, although Remy Martin's top-line maintained its year-to-date double-digit sales rise.

While Remy Cointreaus sales rose in Q3, the increase was below half-year performance

While Remy Cointreau's sales rose in Q3, the increase was below half-year performance

The group said earlier today that its sales in the three months to the end of December were up by just over 3%. Coming on the back of an 8% increase in the first quarter and a 6.2% rise in Q2, group sales in the year-to-date have come in 5.5% up on the corresponding period a year earlier.

In reported terms - which allows for the effect of ForEx - sales in Q3 dipped by 1.7% but were up 3% in the year-to-date.

Remy's House of Remy Martin division generated a 5.5% sales increase in the third quarter, resulting in an 11.5% lift in fiscal-2018 so far.

"The trend in the third quarter can be attributed to a high basis of comparison and to the late timing of the 2018 Chinese New Year," Remy said today. "Adjusted for this one-off effect, organic growth for the quarter would have been around 6%."

With nine-month sales "fully in line with the group's forecasts", operating profits are still expected to rise in the full fiscal year, to the end of March.

Full-year sales will be announced on 18 April, with profits for fiscal-2018 set to be reported on 7 June.

To read Remy Cointreau's official H1 sales announcement, click here.

Remy Cointreau performance trends 2013-2017 - results data


Sectors: Company results, Spirits

Companies: Remy Cointreau

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