French drinks maker Rémy Cointreau SA (REMYF.PK, RCO.PA) Thursday reported 16.3 percent rise in consolidated sales for the financial year ended March 31, with an organic growth of 8.8 percent. The sales improvement was driven by Group brands, particularly Rémy Martin in Asia and the Americas.
For the full year, the company's consolidated sales totaled 1.19 billion euros, higher than 1.03 billion euros in the previous year. Group brands sales increased 18.6 percent to 958.9 million euros.
Rémy Martin brand sales climbed 21.5 percent from the prior year. Rémy Martin achieved double-digit organic growth for the fourth consecutive year, with an increase of 12.7 percent. Asia and the Americas were the main drivers of Rémy Martin's growth.
Liqueurs & Spirits sales were up 10.8 percent from a year earlier. According to the firm, the entire division increased sales 3.9 percent organically, driven by integration of Bruichladdich's within the division's portfolio from September 1, 2012.
Partner Brands sales increased 7.6 percent from the preceding year. The company noted that the growth in brands distributed on behalf of its partners was primarily driven by Scotch whiskies in the U.S.
Foreign exchange effect was a positive 6.8 percent, whilst changes in the Group's structure, related to acquisitions, contributed 0.7 percent to total sales.
In the fourth quarter, organic growth was 12.4 percent, reflecting favorable effect of a later Chinese New Year. The U.S., and Asia maintained their double digit growth, the company said. Europe also contributed to the performance, despite its mixed economic environment.
Jean-Marie Laborde, chief executive officer of the company stated, "This performance confirms the Group's strategic orientation initiated over the last few years. Our results were driven by the move upmarket of the entire brand portfolio, innovations supported by targeted investment and the expertise of our worldwide distribution network."
In Paris, the shares are currently trading at 87.23 euros, up 1.49 percent, on a volume of 88,937 shares.
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