Rémy Cointreau Rebounds In Fourth Quarter With Double-Digit Sales GrowthApril 15, 2015
After facing declining sales for the first nine months of its fiscal year, Rémy Cointreau posted a sharp turnaround, with organic sales up 23.4%, to around €224 million ($238m), for its fourth quarter ended March 31. For the full 12-month period, the group’s sales rose 0.6% to €965.1 million ($1.02b). Rémy’s flagship Rémy Martin Cognac brand also staged a rebound, following a challenging first-half plagued by destocking issues in Asia. The brand was up 15% over the second half of the year, benefiting from positive gains in the U.S., where Rémy Martin depletions grew 4.3% to 648,000 cases last year, according to Impact Databank.
Growth was also driven by strong performances within Rémy’s Liqueurs & Spirits division, which collectively rose 7.2% for the year. The unit includes the company’s Cointreau liqueur brand, which has been bolstered by mixology trends in the U.S. market, as well as the Metaxa liqueur, Mount Gay rum, Bruichladdich single malt Scotch and St-Rémy brandy brands. Likewise, the strengthening of currencies against the euro—particularly the U.S. dollar—created positive foreign exchange effects totaling around €30.3 million ($32.1m) over the 12-month period.
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