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Rémy Cointreau fortifies growth
French spirits group Rémy Cointreau consolidated turnover for the 2011/12 financial year.
In the last 12 month period the company reported a strong annual growth with turnover of €1,026 billion and an organic growth of 15.6%.
The increase was helped by double-digit organic growth in the US and Asia, as booming demand for premium Cognac in China continues at pace.
Sales declined 8.3% in the fourth quarter, a drop flagged by the company in January when the early timing of the Chinese New Year had brought forward orders and boosted third quarter sales.
Jean-Marie Laborde, chief executive officer, commented, “This performance confirms the Group’s strategic orientation initiated over the past years: a distribution structure, in close proximity to the markets and a growth strategy focused on the premium segment, supported by innovation with strong yet targeted investment behind our brands, in order to reinforce our long-term value strategy.”
The maker of Rémy Martin Cognac, Cointreau liqueur and Mount Gay rum said it still expected a substantial rise in full-year results, with significant double-digit growth in current operating profit.