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Interim Profits Surge at Remy Cointreau

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Interim Profits Surge at Remy Cointreau

Interim Profits Surge at Remy Cointreau
November 29
16:14 2011

Reflecting sales growth across all its geographic regions, French spirits group Remy Cointreau has increased current operating profit by 27.3% (up 30.7% organically) to Eur106.2 million for the first six months ended September 30th 2011. Turnover at Eur474.9 million rose by of 10.9% compared with the previous period and by 18.1% organically. The group’s own brands contributed Eur380.4 million, up by 12.9% (20.6% organically). Current operating profit represented 22.4% of turnover, an increase of almost three percentage points.

 

All the group’s geographic regions reported growth. Asia continued to expand strongly, achieving organic growth of 34.0%. The Americas region grew by 11.4% organically during the first half of the year. Europe posted remarkable organic growth of 7.0%, due in particular to strong growth in cognac sales in major European markets.

 

During the period, Remy-Cointreau sold its entire shareholding in Piper-Heidsieck – Compagnie Champenoise to EPI group, which has now assumed control of the Champagne operations in Reims and of Piper Sonoma in the US. In addition, Remy Cointreau and EPI signed a global distribution agreement for the Piper-Heidsieck, Charles Heidsieck and Piper Sonoma brands.

 

Remy Cointreau is continuing to pursue its long-term value strategy of moving its brands up-market and focusing its investment on the development of its international brands and on innovations.

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