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Rémy Cointreau 9-month Sales Up 6.7%; Confirms FY Operating Profit Outlook

Rémy Cointreau (REMYF.PK), a French wine and spirits company, reported sales of 919.4 million euros in the first nine months of its 2018/19 financial year, with reported growth of 6.7% and organic growth of 8.1% at constant exchange rates and consolidation scope.

The company noted that after 7.7% organic sales growth in the first half of the year, the third quarter, up 8.7%, confirmed the Group's sustained momentum. The earlier timing of the Chinese New Year in 2019 added 1 point of growth in the third quarter.

Performance in the first nine months was driven by the Group Brands (+10.3% in organic terms), including the House of Rémy Martin (+13.1%) and Liqueurs & Spirits (+2.3%). Partner Brands (-13.6%) continued to decline, consistent with the Group's strategy to gradually refocus on Group Brands.

With sales in the first nine months fully in line with the Group's forecasts, Rémy Cointreau confirmed its guidance of growth in current operating profit over the financial year 2018/19, assuming constant exchange rates and consolidation scope.

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