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Rémy Cointreau Reports 'Excellent' First Half As Sales Rise 52%

Drinks firm Rémy Cointreau has reported sales of €645.3 million in the first half of its financial year, equating to organic growth of 52.0%, in what the group said was an 'excellent' performance.

Reported sales rose 49.8% in the period, taking into account the positive effects of the acquisitions of the Brillet and Telmont businesses, and negative currency effects (-2.7%).

Second-Quarter Sales Outperform Expectations

The second quarter in particular outperformed the group's expectations, as sales rose 23.7%, boosted by 'solid momentum' in Europe and a strong upward trend in China and the United States.

Its Cognac division saw sales rise 26.9% in the second quarter and 55.2% in the first half, boosted by restocking in the US, the group said, while its Liqueurs & Spirits division was up 46.9% for the first half, and 16.5% in the second quarter.

In terms of the regions in which the group trades, its Americas business reported a 60.2% increase in turnover for the half, boosted by both the recovery of the on-trade channel and increased at-home consumption. Elsewhere, APAC rose by 49.3% and EMEA was up 33.5%, with the group reporting 'strong sales' during the summer.

Full-Year Outlook

Looking ahead to the remainder of the financial year, the group is anticipating that it will continue to 'outperform the exceptional spirits market' and post strong sales and profits, on the back of its solid first-half performance.

'Being ahead of its 2030 strategic plan and given the favourable environment, the Group reiterates its intention to meaningfully increase its communication spend this year, particularly in the second half, to support its brands through the recovery and boost their medium-term growth potential,' it said.

Last year, Rémy Cointreau posted an organic sales increase of 1.8% for the full year, with profits up 12.8%

News by Reuters, additional reporting by ESM. For more Drinks news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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