Remy to Focus on Premium Brands After Full-Year Profit Gains
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Remy Cointreau SA, the maker of Remy Martin cognac, said it will focus on pushing high-priced drinks to drive growth after reporting an increase in annual profit due to cognac sales in Asia and the U.S.
Adjusted operating profit rose to 245.4 million euros ($326 million) in the year ended March 31 from 207.7 million euros a year earlier, the Paris-based company said today. That compares with the 247 million-euro median estimate of 11 analysts surveyed by Bloomberg News. Excluding acquisitions and currency fluctuations, operating profit rose 12 percent. Remy had aimed to increase profit by about 10 percent.