Reuters

Remy Q2 sales beat forecasts, firm flags ‘exceptional’ H1 profit growth

Remy Cointreau forecast on Friday an “exceptional” current operating profit growth in the first half of its 2021/2022 fiscal year after its sales rose by a stronger-than-expected 23.7% in the second quarter, boosted by strong demand for its premium cognac in the United States, China and Europe. For the full year, the maker of Remy Martin cognac and Cointreau liquor – which reiterated it would substantially increase marketing spending during the second half – said it was targeting strong growth in current operating profit and sales. “For the financial year of 2021/22, Remy Cointreau reiterates its confidence in its ability to outperform the exceptional spirits market and anticipates strong growth in sales, mainly driven by the performance in the first half,” the company said in a statement.