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Remy Cointreau reports sales boost on back of liqueurs and spirit growth

Published:  15 April, 2015

Spirits company Remy Cointreau saw a "significant" boost to sales in the last quarter of 2014, and reported positive growth of 0.6% in the 12 months to 31 March.

The French-based company had sustained losses over consecutive quarters in 2013 and 2014, but showed signs of stablisilising in January this year. Today it reported strong expansion in the American region and "remarkable' growth in European markets. It said its performance was in line with objectives set last year.

In addition, the strengthening of currencies against the Euro gave it a major boost, seeing it gain €30.3M euros over the year.

Organic growth on Remy Martin was down 1.9% in the year, despite sales picking up 15% in the second half of the year. However currency fluctuations boosted growth to 2.5% and there was double-digit growth in the US - now he brand's largest market - as well as Africa, Japan and Central Europe.

There was stronger growth across liqueurs and spirits, up 7.2% organically to €237.3 euros, which the company attributed to premiumisation and a growing international focus. Brands highlighted by the company included Mount Gay rum and Bruichladdich whisky on the back of its malt whisky and gin portfolio, which saw sales double.

Its partner brands fell 0.6% driven by a "slight drop" in champagne sales, despite strong spirit growth in Travel retail, Belgium and Central Europe.

Across Europea, Africa and the Middle East there was low single-digit growth. The UK finished up after a slow start, but France and Germany were flat. However there was double-digit growth in Eastern Europe and the company reported strong momentum in the Czech Republic, Slovakia, Poland and Turkey.