Remy celebrates drinkers' return to the top shelf with pounds 31m profit
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE discerning drinker appears to have had enough of a recession-induced switch to cheaper cognacs and champagnes and become reaquainted with Remy Cointreau's upmarket range, writes John Shepherd.
Growth in exports to China and Hong Kong also helped to push up sales of Remy Martin cognac, for a 24.5 per cent rise in net profits to Fr252m ( pounds 31m) in the year to 31 March.
Marc Dubreuil (left) and his brother Francois, joint managing directors, said Remy had consolidated its position as the leader in 'superior quality' cognac with more than one- third of the world market.
'We believe sales are going to grow again. The major economies are coming out of recession,' Marc Dubreuil said. Cognac turnover rose 9 per cent to Fr466m, liqueurs, wines and spirits climbed 16 per cent to Fr357m, and champagne, which was hit badly in 1992/93, contained its fall to just 9 per cent to Fr103m.
He added that trading conditions, however, had yet to recover enough for Remy to push through price increases. 'Prices are stable, but we are able to maintain margins by selling more superior quality cognac.'
(Photograph omitted)
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments