Remy Cointreau banks on premium spirits to boost profit
on 22/06/15 at 4:14 pmIndustry
Remy Cointreau has posted higher-than-expected annual profit, despite a difficult year in China, saying it will accelerate a drive to sell higher-priced spirits to boost profit margins, sending its shares up to 8 per cent higher.
The maker of Remy Martin cognac, Cointreau liqueur and Mount Gay rum also handed investors a 20 per cent dividend increase and predicted further growth in current operating profit in its 2015-16 financial year that began on April 1st.
New chief executive and luxury sector specialist Valerie Chapoulaud-Floquet told a news conference Remy Cointreau wanted to become the world leader in top-end spirits.