Remy Cointreau Reports Strong FY Growth
Published on Jun 13 2012 8:49 PM in Drinks
Spirits company Remy Cointreau has reported strong profit and sales growth for its fiscal year. The owners of the Remy Martin and Cointreau brands revealed it has reduced its net debt by 43 per cent during the fiscal year.
Operating profit (excl. one-off items) increased by 20.2 per cent to €207.7 million in the year to March 31. Sales rose by 15.6 per cent to €1.03 billion. The cognac division experienced like-for-like operating profit growth of 21.6 per cent; this was assisted by strong demand from the US and Russia. The liqueurs and spirits division’s operating profit rose 14 per cent. The company will pay an ordinary cash dividend of €1.30 per share, and a special dividend of €1 per share. (14 Jun) © 2012 ESM: European Supermarket News