Cognac demand gives Remy Cointreau a boost

French spirits maker Remy Cointreau rose sharply in the Christmas quarter thanks to cognac demand. In the period from October to December, sales rose by 21 percent to EUR 440.5 million, exceeding analyst estimates of EUR 415.6 million.

The cognac division alone, which generates 90 percent of the group profit, grew by 19.4 percent to 332.7 million euros. For the financial year ending in March, the Management Board maintained its forecast of “very strong” organic growth, which had already been raised.