French liquor group Rémy Cointreau has had an excellent fiscal year, thanks to its Rémy Martin cognac and its increased popularity in the United States and China.
Nearly 1.1 billion euro in turnover
In its broken fiscal year (until March 2017), Rémy Cointreau sold 1.095 billion euros’ worth of liquor, up 4.2 % compared to the year before. Net profit spiked 85.7 % to 190.3 million euro. Excluding one-time effects, net profit still grew 22.3 % to 135 million euro.
Its cognac division, Maison Rémy Martin, performed very well: turnover grew 9.2 % to 707.5 million euro thanks to “exceptional performances” in America and Asia. There was even a “considerable increase in private consumption during the second parf of the fiscal year” in China.
The other liquors (Cointreau, Metaxa or Mount Gay for instance) achieved a modest 0.9 % growth, with a 276.3 million euro as a result. These results do not take into account Passoa’s turnover, because that liquor was transferred to a joint venture controlled by Lucas Bols.
Its so-called “partner brands” (which entails products from third parties sold by Rémy Cointreau) had to take a 67 % turnover hit and now only represents 2 million euro in turnover. The French company used to sell Piper-Heidesieck and Charles Heidesieck champagne in France, Belgium and at airports, but that contract is no longer active.