Print Edition - 2017-04-20  |  Money Digest

Remy Cointreau cognac sales up


Apr 20, 2017-

French beverages giant Remy Cointreau said on Wednesday that group sales grew “robustly” in the 12 months to March, driven by the strong performance of its cognac division. Nevertheless, revenue growth tailed off sharply in the fourth quarter, sending the group’s shares sharply lower on the stock exchange. Remy Cointreau, which runs its business year from April to March, said in a statement that group sales grew by 4.2 percent to $1.17 billion in the year just ended. “This robust growth was driven by the group brands and in particular by ... Remy Martin,” sales of which grew by 9.2 percent to $758.6 million, the statement said. “Geographically, the momentum reflected a clear acceleration in the Asia Pacific region—notably in China and Australia—and an excellent performance in the Americas region thanks to the United States, as well as Canada,” the company continued.  Since group sales were “fully in line with forecasts,” Remy Cointreau said that it was sticking to its forecast for growth in operating profit over the year.

Published: 20-04-2017 10:32

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