Rémy Cointreau H1 profits rise thanks to increased demand in China and USA
French spirits group Rémy Cointreau has announced that the company's sales hit €544 million in the first half of the 2017/18 fiscal year.
The strong financial results were driven by a robust demand for its premium cognac in China and in the USA.
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The spirits brand posted an 11.8% rise in first-half like-for-like current operating profits.
As a result, the brand said it will keep its forecast for growth in its 2017/2018 current operating profit at constant exchange rates.
Rémy Cointreau said that the brand saw good growth in the Americas, Africa, Russia, and global travel retail.
The company also reported a “strong momentum” in China and Singapore and “improved trends” in Japan.
The maker of Rémy Martin cognac and Cointreau liquor noted that its strategy of selling spirits priced at over US$50 a bottle has helped to offset a rise in costs.
These costs were due to increased investments in its communications and branding strategy.
Rémy Cointreau’s Liqueurs & Spirits business, excluding Rémy Martin, also experienced a 4.5% decline which the company attributed to its Passoã joint venture with Lucas Bols.
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