Cognac sales drive Remy Cointreau

Remy Martin cognacs have a pop star following in the US

French wine and spirits group Remy Cointreau has seen its full-year profits rise 56%, driven by a jump in sales of its core Remy Martin cognacs.

Net profit at the firm, which also owns Piper Heidsieck champagne, was 78m euros ($98m; £53m) in the 12 months to 31 March, up from 50m a year earlier.

However, the results missed analyst expectations after restructuring and tax charges weighed on earnings.

Sales across the Remy Martin range increased 20% during the year.

Group-wide annual turnover rose 6.7% to 798.3m euros.

Remy Cointreau said it expected similar turnover and profit growth for its current financial year as it continued to focus on boosting sales of its core brands in its main global markets.

The company also pledged to reduce its debt levels from 722m euros to under 500m euros.