Drinks Firm Rémy Cointreau Posts Growth Of 4.2% In FY 2016/17
French drinks firm Rémy Cointreau has posted full-year sales growth of 4.2% to €1.09 billion, with organic sales up 4.7%.
Operating profit for the year to 31 March 2017 stood at €226.1 million, a 26.7% increase, driven by organic growth of 13.8% and favourable currency effects. Excluding non-recurring items, net profit was €135 million, an increase of 22.3%.
The company posted strong growth for its Rémy Martin brand in the Americas and Asia-Pacific regions, with China seeing a 'marked increase in private consumption during the second half of the year', it said.
In addition, its Louis XIII brand benefited from the launch of a new Mathusalem variant and novel initiatives such as a pop-up boutique in a Beijing shopping centre.
Liqueurs & Spirits
Its Liqueurs & Spirits division, which includes the Cointreau, Metaxa and The Botanist brands, saw 1.3% growth, which was impacted by the de-consolidation of sales of Passoã last December. If this is excluded, the division posted a 4% increase over a 12-month period.
In addition, in January, Rémy Cointreau acquired two single malt whisky brands, Domaine des Hautes Glaces and Westland, which due to their recent entry into the group are yet to make a 'significant contribution' to its sales.
Looking ahead, the group said that it is pursuing its 'long-term strategy of focusing on its high-end products, founded on the excellence of terroirs, the mastery of savoir-faire and the importance of time'.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up for ESM: The European Supermarket Magazine.