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Remy Cointreau H1 Organic Sales Up 52.0%

French wine and spirits company Remy Cointreau (REMYF.PK) reported that its sales were 645.3 million euros in the first half of its fiscal year, representing an organic growth of 52.0%.

Reported sales for the period were up 49.8% after taking into account positive scope effects of 0.5% (acquisitions of Brillet and Telmont) and adverse currency effects (-2.7%).

Sales in the Americas region were up 60.2%, led by resilient at-home consumption and a strong recovery in the on-trade channel in the United States. The APAC region posted growth of 49.3%, notably reflecting very strong momentum during the Mid-Autumn Festival in China. Growth in the EMEA region came in at 33.5% due to the reopening of the on-trade channel and strong sales over the summer.

For financial year 2021-22, Rémy Cointreau reiterates its confidence in its ability to outperform the exceptional spirits market and anticipates strong growth in sales, mainly driven by performance in the first half.

Rémy Cointreau targets strong full-year growth in current operating profit, tempered by adverse currency effects and scope effects. Current operating profit will mostly benefit from the expected exceptional growth in the first half.

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