UK market strong for Rémy as China and Greece hit Cognac and liqueur group's sales

By Nigel Huddleston

Published: 21 July, 2015

Rémy Cointreau enjoyed "healthy momentum" for its Rémy Martin Cognac brand in the UK as the French group reported an 11.2% increase in global sales for the brand in the quarter to June.

The performance in EMEA - which also saw bright spots in Africa, France and Germany - helped to offset "continued caution" of wholesalers in China where the government clampdown on gift giving has hit global spirits firms hard.

Overall, Rémy Cointreau said sales declined 9% in organic terms - based on constant exchange rates - to €223.3 million.

Falling sales of Metaxa in crisis-hit Greece and to Russian customers in travel retail hit the liqueurs division hard, with organic sales down 13.8%.

The company said Cointreau benefited from slight growth in western Europe and the launch of the travel retail exclusive Cointreau Blood Orange in European and American airports.

Islay spirits Bruichladdich whisky and The Botanist gin continued growth recorded in earlier reporting periods.

Rémy said in a statement: "At the end of this first quarter, in line with group forecasts, Rémy Cointreau confirms its objective of delivering positive growth in current operating profit for the 2015/16 fiscal year, at constant exchange rates and scope."

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