Rémy Cointreau Posts H1 Organic Growth Of 4.1%

Rémy Cointreau has reported consolidated sales of €513.4 million for the half-year finishing 30 September 2016, representing 4.1% growth on an organic basis, the company announced last week.

Image result for Rémy Cointreau

Its 2016 operating profit was €123.9 million – a 7% jump on a like-for-like basis.

This rise is due to the performance of the group’s top-end products, Rémy Cointreau commented .

That its current operating profit was up 15.9% on a reported basis owes to ‘positive foreign exchange effect over the half-year period.

‘Current operating margin increased by 270 basis points to 24.1% over the period, with favourable foreign exchange and mix effects offsetting an increase in communication investments,’ the drinks company said.

Excluding non-recurring items, the group share of net profit went up by 11.8% on a reported basis, reaching €76.6 million. Net margin improved by 120 basis points to 14.9%.

Rémy Cointreau had reported second-quarter revenue that beat analysts’ estimates, led by growth in the US and improving Rémy Martin cognac sales in China.

Read the full article here.