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Rémy Cointreau reveals mixed half-year results

Published:  16 October, 2015

Sales at Rémy Cointreau were up 6.1% to £386m in the first half of 2015, according to results posted today.

Revenue growth was almost entirely due to the weakness of the euro, however. Organic sales were down 5.9%.

Sales in the second quarter proved better than the first, down 3.2% as opposed to down 9%.

In Europe, the Middle East and Africa, sales remain strong. But sales in the Americas are steady and there has been a decline in revenues from Asia-Pacific.

Growth in Europe is largely driven by the markets in the UK and Germany.

The company attributed the problems in Asia Pacific to a number of technical factors, including changes in its distribution network.

The Cointreau brand benefited from the launch of Cointreau Blood Orange, which is exclusive to travel retail in European and US airports.

Metaxa sales were down overall for the six months, driven largely by contraction in the Greek and Russian markets. It remains in robust growth in central Europe, however.

The group's Islay spirits - Bruichladdich and The Botanist - reported double-digit growth on the back of significant new listings in the US, Japan, France, Germany and Belgium.