FRANCE. Rémy Cointreau has reported consolidated turnover of €374.5 million for the first six months of the financial year, representing year-on-year organic growth of +9.8% and +5.7% overall.
This was marked by +10.7% organic growth in the group’s own brands and accelerated growth in several Asian and European countries.
“Driven by the group’s value strategy, performance in the first six months of the year is in line with our guidance of significant organic growth in operating profitability for the 2007/08 financial year,” the French drinks group stated.
Six-month sales by division (April to September 2007)*
Cognac: Turnover reached €167.5 million, with year-on-year growth of +7.5% and an organic growth of +13.0%. Rémy Martin confirmed its good first-quarter performance, consolidating its range in major European markets with the launch of CÅ“ur de Cognac in September.
Top-of-the-range Cognacs continued to post strong growth, especially in Asia and Europe. Their growth rate in the last quarter was boosted by an enhanced group structure, a result of the logistical platform established in November 2006 in Shanghai.
Liqueurs & Spirits: All brands in this division registered growth, particularly Cointreau in Europe, Metaxa in Eastern Europe and Russia, and Passoa in France and Benelux. Year-on-year growth was +2.6%, with organic growth at +4.9%, to reach a turnover of €102.1 million.
Champagne: The division experienced +13.0% year-on-year growth and grew organically by +14.8%, registering a turnover of €60.3 million. Piper-Heidsieck and Charles Heidsieck Champagnes delivered “an excellent performance” in the second quarter, reflecting early orders for Christmas and the New Year holidays. The US and Europe confirmed their growth potential.
Partner brands: The development of Imperia vodka in the US and growth by Scotch whiskies and Californian wines all contributed to growing sales. The division grew organically by +3.7% despite experiencing a negative year-on-year growth of -2.5%. Overall turnover stood at €44.6 million.
*As at 30 September 2007. All organic growth figures calculated on a like-for-like basis.
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