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Oct. 22, 2021, 3:32 a.m. EDT

Remy Cointreau 1H Sales EUR645.3M

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Remy Cointreau SA said Friday that sales rose above expectations in its second quarter and that it is targeting strong growth in operating profit for the full fiscal year, but declined to set out numerical guidance.

The French drinks group's sales for the July-September period increased 24% at constant currency, taking the first-half total 52% higher to 645.3 million euros ($750.3 million) following a strong first quarter. Cognac sales increased at a rate of 27% in the second quarter.

The maker of Remy Martin cognac and Mount Gay rum said all regions contributed to first-half revenue. The Americas region posted the strongest growth at 60%, with resilient off-trade and recovering on-trade fuelling sales, the company said.

On Thursday, Remy's larger rival Pernod Ricard SA posted quarterly sales growth that beat consensus expectations, pointing to the recovery of on-trade sales to the hospitality sector as a key driver of the result.

Remy didn't set out numerical guidance for fiscal 2022, but said it is targeting "strong growth" in current operating profit. The result will mostly be down to first-half growth, the company said, suggesting a more moderate outlook for the second half.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

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