This Friday, the financial results were released for the Rémy Cointreau spirits group. Despite a still unstable context linked to the Covid-19 pandemic, the group’s sales exceeded expectations and showed exceptional growth in the second quarter.
Rémy Cointreau‘s sales increased by 23.7%, exceeding analysts’ forecasts in the second quarter. Sales for the three months to 30 September 2021 reached 352.2 million euros, whereas analysts were forecasting growth of 20.8% in reality.
These exceptional results are being driven by increased demand for cognac in the US, China and European markets. Indeed, cognac sales amounted to 265 million euros, marking an increase of 26.9% on a like-for-like basis.
In the first half of the year, Rémy Cointreau’s sales increased by 52% on a like-for-like basis, with a 55.2% increase for cognac.
In a press release, Rémy Cointreau said it was “confident in its ability to outperform the exceptional spirits market and expects strong sales growth, driven mainly by first half performance”.
These very positive results can be explained by the relaxation of measures related to the global pandemic and the reopening of restaurants and bars in the United States and Europe.
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Featured photo : © Marius W.Hansen
