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Sales rise in Q1 for Remy Cointreau but Strategic Plan makes bumpy entry

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  • Reported Q1 sales rise by 3.9%

  • Organic fall of 9% in three months to end of June "in line" with expectations

  • Asia Pacific, Americas post sales declines, Europe, Middle East & Africa "healthy"

  • Outlook for FY confirmed, positive growth in operating profits forecast

Remy Cointreau has reported a lift in quarterly sales in reported terms, but saw sales from its liqueurs & spirits operations struggle in the period.

Remy Cointreau reported a near-4% rise in quarterly sales

Remy Cointreau reported a near-4% rise in quarterly sales

For the three months to the end of June, sales totalled EUR223.3m (US$242m) for the France-based group. In organic terms, sales were down by 9%, although this was "in line with our expectations", Remy said.

The reported performance marked an improvement on Remy's sales in its latest fiscal full-year, which were down by 6.4%. The firm noted, however, that the first-quarter "does not traditionally make a significant contribution to annual sales".

An analysis of Remy Cointreau's Q1 performance can be found here

The group also said that the quarter's numbers were affected by the "implementation of our medium-term Strategic Plan", which includes introducing an improved product-mix, the adaptation of its global distribution network, and the streamlining of on-trade contracts in China.

For a drilldown into Remy Cointreau's Q1 performance by region and by brand, click here

Looking forward, Remy said it expects to report operating profits growth in the current fiscal year.

In morning trading, Remy Cointreau's shares were down markedly: At 1036 CEST, they were 2.26% down at EUR67.43.

The company will report its half-year sales on 16 October, with full half-year results expected to be released on 26 November.

A report from Remy Cointreau's post-results conference call can be found here

For the company's official release, click here.


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