October 19, 2018 / 5:33 AM / a month ago

Remy's Q2 sales boosted by China's thirst for cognac

PARIS, Oct 19 (Reuters) - French spirits company Remy Cointreau said sales growth had accelerated in the second quarter on a like-for-like basis, beating expectations and helped by strong demand for its premium cognac in China and other key Asia-Pacific markets.

The group, which makes Remy Martin cognac and Mount Gay rum, kept its forecast for growth in full year current operating profit at constant exchange rates and consolidation scope.

Sales for the three months to Sept. 30 came in at 329.8 million euros ($378 million), marking a like-for like rise of 9.1 percent that beat analysts’ expectations of 7.8 percent growth in a company compiled consensus of analysts.

This compared with like-for-like sales growth of 5.9 percent in the first quarter.

$1 = 0.8728 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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