Rémy Martin’s Big Gains Push Rémy Cointreau To Double-Digit Sales, Profit Rise

Rémy Martin’s solid performance propelled Rémy Cointreau to double-digit sales and profit growth for its recently completed fiscal year.
Rémy Cointreau’s sales advanced by 16.3% to €1.19 billion ($1.58b) for the 12 months ended March 31, 2013, while its operating profit rose by 18.1% to €245.4 million ($325.2m).

Rémy Martin, which accounts for roughly 60% of company sales, enjoyed a 21.5% bump in sales and a 25.2% surge in operating profit, due to a combination of price increases and strong organic growth in Asia and the U.S. The Cognac brand’s performance in Asia was particularly encouraging in light of a slowdown in the luxury goods trade in China since the curtailing of inter-governmental gift-giving and banquets in the market in recent months.

Beyond its flagship brand, Rémy Cointreau also derived impressive sales growth from its liqueurs and spirits unit. Sales there grew by 10.8% to €239.1 million ($316.8m), driven by Cointreau’s progress in the U.S. and Western Europe and Metaxa’s rise in Eastern Europe. However, profits for the division fell by 14.1%, because of a substantial increase in sales and marketing investment. Bruichladdich, which joined Rémy Cointreau’s portfolio on September 1, didn’t have a significant impact during the period.

Yesterday, Rémy announced that it was selling Larsen Cognac to Finland’s Altia for an undisclosed sum.

Tagged : Cognac, Remy Cointreau, Remy Martin, spirits

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