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Drinks

Rémy Cointreau Sees Sales Grow By 7% In First Half

Drinks giant Rémy Cointreau has recorded sales of €544.4 million in the first half of its financial year, with organic growth of 7%.

The company says that this "robust growth" was driven by its group brands, in particular, Rémy Martin, which saw sales grow by 15.4%.

In the first half, organic growth increased in all regions, with strong momentum in Asia Pacific, China and Singapore, as well as improved trends in Japan.

Brand Performance

The Rémy Martin brand achieved organic sales growth of 15.4% in the first half, with increased sales in all regions.

However, the group's liquors and spirits division saw sales decline by 4.5% in organic terms, which it attributes to the deconsolidation of Passoã sales.

Meanwhile, Cointreau has continued its progression, thanks to a strong performance in the United States and development in emerging markets. Metaxa experienced "remarkable growth".

The group's partner brands generated lower sales, declining by 14.3%.

Group Strategy

Rémy Cointreau has confirmed its guidance of growth in current operating profit for the rest of the 2017/2018 financial year, as first-half sales have been fully in line with group forecasts.

Earlier this month, the company announced the appointment of Marc Hériard Dubreuil as its new chairman, succeeding his brother François, saying, "[The new appointment] illustrates and confirms the family's commitment to the group's strategy to create value and ambition to become the world leader in exceptional spirits."

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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