Remy Cointreau beat Q3 expectations
Remy Cointreau, the classic French alcoholic beverage company, has seen a resurgence in its performance as some of its brands become more popular in new regions and their traditional markets too. Now, it has revealed its third quarter financial reports, which should please its executives and shareholders alike.
The Paris-based drinks giant was able to generate sales of €836.7 million in the first nine months of the 2016/17 financial year, with reported growth coming in at 4.7%. Looking at the figures, in organic terms, sales climbed 6% after an excellent third quarter growth return of 9%.
Breaking these results down a little bit further, the company’s Remy Martin sales came in at €534.4 million for the first nine months of the fiscal year, which is up 9.6% on a reported basis and 11.2% organic from the 2015 figure of €487.7 million.
Breakdown of sales by division:
SOURCE: Business Wire
This latest financial release from Remy Cointreau also showed that it picked up its festive period performance year over year. In the three months to 31 December they were able to bring in revenue of €323.3 million, compared to the €298.4 million in the previous year. This is an impressive rise of 9%.
A press release from the company said:
‘Geographically, the Group's strong performance in the first nine months was bolstered by the Americas and the Asia Pacific regions — this last seeing a solid recovery in private consumption in Greater China — as well as some improvement in Travel Retail trends. Performance was more contrasted in the Europe, Middle East and Africa region, with Russia, Central Europe, the UK and South Africa contributing to the Group's strong momentum.’
Dominion holds Remy Cointreau in its Global Trends Luxury Fund.
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