Remy Cointreau posts strong results in Q4, +6% organic growth
International spirits market leader Remy Cointreau posted strong results this month, demonstrating forward momentum in Asia and stabilization in its biggest market, North America. The company saw organic growth of 6%, with organic growth of the group’s own brands rose by 9%. In the U.S., accounting for 40% of Remy’s business, sales growth stabilized at the high single digit mark, while sales in Asia ceased to be a drag and saw double digit growth.
The company said “excellent performances” in the Americas and Asia Pacific sent sales of its cognac higher, as the global predilection for dark spirits continues to gain pace. Greater China benefited from a “sharp acceleration” in private consumption and travel retail sales. Meanwhile, in Europe, the Middle East & Africa, and the UK, Remy described the year as “good”, and its Russian business returned to “solid growth”.
Remy Cointreau is up 13%, year-to-date
SOURCE: Yahoo Finance
For the full year, Remy’s results were also positive. Organic growth rose by 4.7%, and group brands rose 7.4%. Figures were strong across all geographic regions, but, just as in the 4Q figures above, China and America were the bedrock of Remy’s performance.
The group reiterated its forward guidance for the coming year.
Dominion holds Remy Cointreau in its Global Trends Luxury Fund.
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