Strong quarter for French liquor group Rémy Cointreau

Strong quarter for French liquor group Rémy Cointreau

In the third quarter of its broken fiscal year, Rémy Cointreau, known for its brandy Rémy Martin, liquor Cointreau and Metaxa, nearly doubled analysts' turnover expectations.

9% autonomous growth

Third quarter turnover autonomously grew nearly 9 % to 323 million euro, even though analysts had only expected a 4.2 % increase. An early Chinese New Year (on 28 January) prompted plenty of Chinese consumers to buy brandy and liquor, boosting the company's turnover. Brandy Rémy Martin even achieved a 21 % turnover growth.

 

Over the first 9 months of the fiscal year, the French liqour group's turnover grew 4.7 % to 836.7 million euro. Its autonomous turnover growth reached 6 %, but negative exchange rates dampened the result 1.3 %. Brandy sales were the major contributor (+ 11.2 %), even though liquor also performed well (+ 4.1 %). Backed by these results, the group confirms its earlier full-year turnover and profit forecasts.