Strong spirits and US sales boosts Remy Cointreau
Strong sales of liqueur and cognac sales boosted Remy Cointreau, which saw organic sales of 4.1% to €513.4 million in the first six months of the year.
The fluctuating exchange rate saw this reported as 2.5%.
Sales were particularly strong – “remarkable”, it stated – in the US, it said, with China, the UK, Russia and Australia also helping to return a “solid’ performance.
Sales of its flagship The House of Remy-Martin brand continued to be “robust” at 5.1%, while a strong second quarter boosted the fortunes of liqueurs & spirits, particularly across Europe and the US, following an initial drag due to macroeconomic and technical factors. Cointreau also made gains in China and improved in France it reported, and Metaxa gained momentum in Russia.
The Scotch portfolio, which comprises Bruichladdich, Port Charlotte, Octomore and The Botanist , also continued its double-digit growth across its main markets and travel retail.
However rum brand Mount Gay and St-Remy Cognac saw volumes hit at the entry level as they continued the process to become more premium. And the company was hit by the end of its distribution of Champagne brands Charles Heidsieck and Piper Heidsieck, which resulted in a 3.1% fall in its partner brands, despite the “strong momentum“ reported in its other brands.