Luxury goods

French spirits firm has seen soaring demand in Europe for quality drinks

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Brits are continuing to swig cognac from French spirits firm Rémy Cointreau, but weaker demand from China and crisis-hit Greece has pushed group sales down 9%.

Anti-corruption measures in China hitting the buying of luxury goods was among the factors that contributed to organic revenue falling to €223.3 million (£155.3 million) in the three months to June 30.

Sales of its Greek spirit Metaxa also “fell significantly” as spending tightened in the struggling nation.

However, it said: “The Rémy Martin brand enjoyed healthy momentum in the EMEA region, supported by Africa, the UK, France and Germany, as well as an acceleration in demand in the US for superior qualities.”

It added that it expects positive growth in underlying operating profit for the full year. The shares dipped €1.40 to €67.50.

http://www.standard.co.uk/business/business-news/r-my-cointreau-consoled-by-cognac-as-greece-and-china-weakness-hit-sales-10404084.html

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Model: Dita Von Teese

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