Rémy Cointreau bounces back with third quarter growth

By Mathew Lyons

Published: 21 January, 2016

Rémy Cointreau returned to growth in its third quarter, driving sales for the first nine months of its financial year to some £616 million, the company announced this morning.

Headline growth of 10.9% for the quarter reflects organic growth of 3.2%, once factors such as currency fluctuations are stripped out.

That compares to a contraction of 5.9% in organic growth over the first two quarters.

The company's improving sales position in China and the US was a key factor in its revival, it said.

Sales of the flagship Rémy Martin brand were up 6.4% for the quarter, a turnaround from the 6.7% contraction it notched up in the first quarter.

Similarly, liqueur and spirits division posted a 4% rise, a subustantial improvement on the 8.3% decline it recorded for the first six months.

Within the division, both Cointreau and Metaxa - helped by the launch of Metaxa Honey Shot in central Europe - returned to growth, while Rémy Cointreau's Islay Spirits brands, Bruichladdich and The Botanist, which have been untroubled by the company's travails elsewhere, continued to grow strongly.

The company says it is on track with its expectations for the nine-month period and expects fourth quarter figures to be stronger than third quarter.

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