Remy Cointreau SA
RCO,
said Tuesday that sales rose in the first quarter of its fiscal year with a positive performance across brands, and confirmed guidance for 2022-23.
The French drinks group reported sales of 409.9 million euros ($418.8 million) in the three months to June 30 from EUR293.1 million the year earlier. On an organic basis, sales rose 27% on year.
The company said it benefited from strong activity in the U.S. and continued recovery in the Europe, Middle East and Africa region, as well as a rebound in China.
Remy Cointreau said it expects to register strong growth in the full year, with an improvement in the current operating margin driven by a resilient gross margin despite inflation and by control over overhead costs.
It also said it foresees a positive currency effect of between EUR90 million and EUR100 million on sales and of between EUR50 million and EUR60 million on current operating profit for 2022-23.
Write to Giulia Petroni at [email protected]
