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Rmy Cointreau reports first-quarter sales rise

Published:  23 July, 2008

French wine and spirits group Rmy Cointreau has reported a 6.5% rise in first-quarter sales.

Turnover for the three months from April to June rose to 158.7million (107.01m) led by higher sales of Cognac.

Remy said it had been adversely affected by the euro/dollar exchange rate but added its hedging policy had helped limit the effect of this.

The company's brands include Rmy Martin Cognac, Cointreau liqueur and Piper-Heidsieck Champagne.

During the first quarter, Cognac sales rose 10.6% to 71.2m (48m) outpacing sales growth in other areas.

The company said in a statement that its first-quarter sales performance was in line with its previously stated target of achieving "a significant organic growth" in its operating profitability for the 2007-2008 financial year.