Rémy Cointreau cites Asia in H1 profit spike

Rémy Cointreau has attributed its positive half-year profits to “remarkable” growth in Asia and “strong” performances in the US and Europe.

The group which controls Rémy Martin cognac, Cointreau liqueur, Mount Gay rum and Greek spirit Metaxa saw operating profits reach €106.2 million for the six months leading to September 30 2011, representing organic growth of 30.7% year-on-year.

Turnover for the period stood at €474.9, an organic increase of 18.1%.

A statement from Rémy Cointreau read: “This performance was due to strong sales growth in all regions of the world. The group once again achieved remarkable growth in Asia and a strong performance in the US and Europe.”

The group said it continues its “aggressive strategy to move its brands upmarket” while committing “substantial investment to support its key brands”.

Boosted by a surge in the popularity of cognac in Asia, sales of Rémy Martin grew 34.4% organically.

“Rémy Martin is benefiting fully from a thriving Asian economy, particularly in Chinese markets where superior qualities reported the strongest growth rates,” the group said.

The group’s liqueurs and spirits division recorded organic growth of 10.5% during the period with the Dita Von Teese backed Cointreau brand achieving growth in new markets such as Australia and Russia. 

Mount Gay Rum recorded positve sales in its flagship markets of Australia, New Zealand and Great Britain while Metaxa enjoyed renewed growth, albeit based on historically low comparatives, following a two-year decline.