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Rémy Cointreau FY19 Sales Rise; Confirms Current Operating Profit Growth Outlook

Rémy Cointreau (REMYF.PK), a French wine and spirits company, reported Wednesday that its fiscal 2019 sales grew 7.9 percent to 1.22 billion euros from last year's 1.13 billion euros. Sales went up 7.8% in organic terms, at constant exchange rates and scope.

In the fourth quarter, organic sales grew 7%, despite the negative impact of the earlier timing of the Chinese New Year 2019. Adjusted for this factor, organic growth was 8.5%.

In the year, Group brands recorded sales growth of 9.9% to 1.13 billion euros. Sales of the House of Rémy Martin went up 12.1 percent to 851.9 million euros. The Liqueurs & Spirits division's sales grew 3.7 percent. Partner Brands' sales dropped 12.2%.

On a geographical basis, Asia-Pacific posted very strong growth, driven by the entire brand portfolio. The Americas continued their strong momentum, driven by market share gains in the United States.

For the full year, Rémy Cointreau confirmed its guidance of growth in Current Operating Profit.

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