HOLIDAY SALES ARRIVE EARLY FOR REMY
Remy Cointreau said overall sales for the six months increased 5.7% due to strong growth from its brands. Year on year organic growth was up 9.8%, while spirits grew 5% organically.
Organic sales of cognac grew 13%, accelerated by growth in several Asian and European countries. “Their growth rate again benefited...from an enhanced Group structure due to the logistical platform established in November 2006 in Shanghai,” said the company in a statement.
“Premium cognac was strong in H1 with Asia and Europe highlighted...Shipments to the US were strong in October, a positive sign for a strong Q3 performance in US cognac for Remy,” said Melissa Earlam of UBS.
The Champagne sector increased 14.8% in the first half, with Piper-Heidsieck and Charles Heidsieck performing especially well thanks to “early orders for Christmas and the New Year,” the company said. Most of the growth was seen in Europe and the U.S.
All liqueur and spirits brands “registered growth,” Remy added, “particularly Cointreau in Europe, Metaxa in Eastern Europe and Russia, and Passoa in France and Benelux.”
Meanwhile, partner brands grew 3.7% organically, helped by the development of Imperia vodka in the US and growth by Scotch whiskies and Californian wines.
The company maintained that performance is in line with guidance of significant organic growth in operating profitability for the 2007/2008 fiscal year.
Organic sales of cognac grew 13%, accelerated by growth in several Asian and European countries. “Their growth rate again benefited...from an enhanced Group structure due to the logistical platform established in November 2006 in Shanghai,” said the company in a statement.
“Premium cognac was strong in H1 with Asia and Europe highlighted...Shipments to the US were strong in October, a positive sign for a strong Q3 performance in US cognac for Remy,” said Melissa Earlam of UBS.
The Champagne sector increased 14.8% in the first half, with Piper-Heidsieck and Charles Heidsieck performing especially well thanks to “early orders for Christmas and the New Year,” the company said. Most of the growth was seen in Europe and the U.S.
All liqueur and spirits brands “registered growth,” Remy added, “particularly Cointreau in Europe, Metaxa in Eastern Europe and Russia, and Passoa in France and Benelux.”
Meanwhile, partner brands grew 3.7% organically, helped by the development of Imperia vodka in the US and growth by Scotch whiskies and Californian wines.
The company maintained that performance is in line with guidance of significant organic growth in operating profitability for the 2007/2008 fiscal year.
posted at 11:35 AM
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