Remy Q2 Sales Beat Forecasts, Eyes “Exceptional” H1 Profit Growth | The Salesmark

Remy Q2 Sales Beat Forecasts, Eyes “Exceptional” H1 Profit Growth

Remy Q2 Sales Beat Forecasts, Eyes “Exceptional” H1 Profit Growth

Remy Cointreau said it would deliver “exceptional” current operating growth in the first half of its 2021/2022 fiscal year after its sales rose by a stronger-than-expected 23.7% in the second quarter, boosted by strong demand for its premium cognac in the United States, China and Europe.

For the full year, Remy Cointreau – which reiterated it would substantially increase marketing spending during the second half to support its brands – said it was targeting strong growth in current operating profit and sales. It did not provide a specific figure for its guidance.

“For the financial year of 2021/22, Remy Cointreau reiterates its confidence in its ability to outperform the exceptional spirits market and anticipates strong growth in sales, mainly driven by the performance in the first-half,” said the company.

“Current operating profit will mostly benefit from the expected exceptional growth of the first-half,” it added.

Sales for the three months to September 30 came in at 352.2 million euros ($409.4 million), marking a like-for-like rise of 23.7%, which beat analysts’ expectations for 20.8% growth.

Cognac sales alone reached 265 million euros, a like-for-like rise of 26.9%, which notably reflected a very strong performance in China during the Mid-Autumn Festival.

Remy Cointreau’s fiscal year starts on April 1 and ends on March 31.

Related Posts