Rémy Cointreau Posts H1 Organic Growth Of 4.1%
Rémy Cointreau has reported consolidated sales of €513.4 million for the half-year finishing 30 September 2016, representing 4.1% growth on an organic basis, the company announced last week.
Its 2016 operating profit was €123.9 million – a 7% jump on a like-for-like basis.
This rise is due to the performance of the group’s top-end products, Rémy Cointreau commented .
That its current operating profit was up 15.9% on a reported basis owes to ‘positive foreign exchange effect over the half-year period.
‘Current operating margin increased by 270 basis points to 24.1% over the period, with favourable foreign exchange and mix effects offsetting an increase in communication investments,’ the drinks company said.
Excluding non-recurring items, the group share of net profit went up by 11.8% on a reported basis, reaching €76.6 million. Net margin improved by 120 basis points to 14.9%.
Rémy Cointreau had reported second-quarter revenue that beat analysts’ estimates, led by growth in the US and improving Rémy Martin cognac sales in China.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.