REMY COINTREAU SEES STRONG COGNAC GROWTH

In its first-quarter earnings, Remy Cointreau said revenue ending June 30 grew 6% yoy, supported by growth in all divisions and beating analysts’ estimates. Organic sales increased 11%, helped especially by Remy Martin Cognac, Metaxa and Passoa, and increased growth in China and Russia.

Liqueurs and spirits organic sales increased 5.3%, champagne sales rose 5.6% and cognac sales jumped a whopping 16.7%. Double digit growth was recorded by Piper-Heidsieck and Charles Heidsieck.

Meanwhile, partner brands grew 10.5% where “the growth of Scotch whiskies in the US and the development of Imperia vodka contributed to the sales growth in this division.”