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Rémy Cointreau reports annual sales increase boosted by strong Chinese performance

Published:  18 April, 2018

Rémy Cointreau has reported an increase in annual sales, boosted by demand in China for its Cognac, and kept its target for profit growth this year.

The French spirits company, which makes Remy Martin cognac and Mount Gay rum, said annual sales had risen from €1.09 billion to €1.113 billion in the year to 31 March, 2018.

It attributed the increase a to strong performance in Asia-Pacific, especially in Greater China, but said Singapore, Japan and the new subsidiary in Malaysia had all improved their sales momentum. 

In the fourth quarter alone, demand during the Chinese New Year festivities in February lifted cognac sales by 18.3% on a like-for-like basis, it added.

Sales trends in the Europe, Middle East & Africa (EMEA) region, although adversely affected by the deconsolidation of Passoã, benefited from strong momentum in Russia, Central Europe and the UK, it said.

The Americas region continued to deliver solid growth, propelled by the United States and Canada, it added.

With full year sales in line with the group’s forecasts, Remy Cointreau confirmed its guidance of growth in current operating profit for the financial year 2017/18, “assuming constant exchange rates and consolidation scope”.