Rémy Cointreau Ups Guidance After Buoyant First HalfNovember 29, 2021
Rémy Cointreau says it’s now expecting strong organic sales growth and “very strong” organic operating profit growth for its fiscal year ending next March, after posting a 52% sales increase and 105% operating profit increase to €645 million ($727m) and €213 million ($240m) respectively, for the six months through September.
First-half sales in the Cognac division were up 55%, including volume growth of 35% and a 20% increase from price/mix effects owing to the growing contribution from mid-range products like Rémy Martin Club in China and 1738 Accord Royal in the U.S., as well as global price rises taken in April 2021. The liqueurs and spirits division was up 50%, driven by Cointreau’s ongoing strong growth in the U.S.—Daniel Marsteller
Tagged : Cointreau, Remy Cointreau, Remy Martin
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