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Drinks

Drinks Firm Rémy Cointreau Posts Growth Of 4.2% In FY 2016/17

By Steve Wynne-Jones
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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%.

Strong Performance

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.

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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.

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