RĖMY UP 2.5% IN 1ST-QUARTER PROFITS
French champagne and spirits group Rémy Cointreau posted a 2.5% rise in 1st-quarter profits, reporting sales of $188.1 million for the three months ending June 30. The company’s champagne labels, including Piper-Heidsieck and Charles Heidsieck, jumped almost 15%.
Rémy’s spirits sales rose close to 5%, pushed by higher Cointreau sales in the U.S. and the success of Passoa and St. Rémy brands in Europe. Cognac sales jumped 6% with the company’s flagship Rémy Martin brand surpassing last year’s “strong” 1st-quarter sales, the company said.
Despite some setbacks coming from sales from its partner brands, Rémy claims it is in line with its full-year forecast. “These results for the start of the year are fully in-line with Rémy Cointreau’s value strategy and its objective of double-digit organic growth in current operating profit for the 2006/07 financial year,” the company said.
Rémy’s spirits sales rose close to 5%, pushed by higher Cointreau sales in the U.S. and the success of Passoa and St. Rémy brands in Europe. Cognac sales jumped 6% with the company’s flagship Rémy Martin brand surpassing last year’s “strong” 1st-quarter sales, the company said.
Despite some setbacks coming from sales from its partner brands, Rémy claims it is in line with its full-year forecast. “These results for the start of the year are fully in-line with Rémy Cointreau’s value strategy and its objective of double-digit organic growth in current operating profit for the 2006/07 financial year,” the company said.
posted at 12:31 PM
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