Asia Pacific lifts Rémy Cointreau’s half-year sales

Rémy Cointreau said on Tuesday that first-half sales of its 2017/18 financial year through 30 September grew 6% to €544.4m ($639m), buoyed by its Rémy Martin cognac brand which reported 13.8% sales growth to €367m.

The maker of Cointreau liqueur and Mount Gay rum said that it saw organic growth in all regions, with Asia Pacific region delivering remarkable performance, driven by strong momentum in Greater China and Singapore, as well as improved trends in Japan. The Americas region was bolstered by a strong second-quarter in the United States amid a favorable environment for cognac upscaling. Europe, Middle East and Africa (EMEA) region also posted strong results, driven by strong performances in Russia, Central Europe and a new phase of expansion in Africa.

The group said that its liqueurs & Spirits business which does not include Rémy Martin declined 4.2% due to deconsolidation of Passoã sales from 1 December 2016, which masks a 5% reported growth by the category’s remaining brands in the first-half.

Sales of partner brands also fell by 13.9% due to the end of the distribution agreement for champagne brands Piper-Heidsieck and Charles Heidsieck.

Looking forward to the second-half, the group said it was confirming its guidance of growth in the Current Operating Profit over the financial year 2017/2018 assuming constant exchange rates and consolidation scope.

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