Remy Cointreau reports strong FY growth | Progresiv
Remy Cointreau has reported better-than-expected profit growth for its fiscal full year, helped by a rebound in the key Chinese market, and said it expects further improvement in the current fiscal year. 
For the year ending 31 March, operating profit was up 6.1% to 178.4 million euros, net profit grew by 10.6% to 102.4 million. and revenue rose by 8.9% to 1.05 billion euros (+0.3% like-for-like basis).
Sales at the Remy Martin division jumped up 14.7% to 647.8 million euros, on operating profit growth of 19%. The Liqueurs & Spirits division reported a modest 4.1% increase in sales to 273.7 million euros, while operating profit declined by 7.1%. Its other group brands saw sales grow by 11.3% to 921.5 million euros, with operating profit up 11%. However, Partner Brands recorded a 5.9% drop in sales to 129.2 million euros, with operating profit slumping by 17.1%.
The group said it witnessed renewed demand for premium spirits in markets such as China and the US, while the Europe, Middle East and Africa region also “delivered a strong performance”. (www.kamcity.com)
