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Rémy Cointreau Toasts 18% Rise In First Half

October 20, 2011

Rémy Cointreau reported a 10.9% increase in revenue for its fiscal first half ended September 30. Sales rose from €428.1 million ($588.6m) to €474.9 million ($653m), resulting in an organic growth rate of just over 18%. Rémy attributed the sales jump primarily to continued growth in Asia, but the U.S. and Western Europe also showed signs of recovery.

Benefiting from improved pricing, flagship Cognac brand Rémy Martin experienced “strong commercial momentum” during the period, growing 9% by volume due to high demand in Asia and travel retail markets and encouraging sales in the U.S., Germany, France and Russia. Rémy’s liqueurs and spirits division also fared well, with Cointreau making notable progress in its key U.S. market, as well as the U.K., Belgium and the Netherlands. Mount Gay Rum enjoyed healthy growth in the U.S., the Caribbean and Canada, while Greek brandy Metaxa finally rebounded after experiencing a two-year decline.

Meanwhile, Rémy continues to benefit from strong Scotch whisky sales in the U.S. through its partnership with the Edrington Group (it markets Edrington’s The Macallan, Highland Park and Famous Grouse Scotches in the U.S.), and also from rising U.S. sales of the Piper-Heidsieck and Charles Heidsieck Champagne brands, for which Remy continues to serve as sole worldwide distributor. Rémy sold those brands, along with California sparkler Piper Sonoma, to French firm EPI for €412 million ($593m) in a deal that closed in July.

 

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