REMY Cointreau, the drinks giant behind Islay's Bruichladdich distillery, has reported a 7.3 per cent slump in first-half profits, writes Scott Wright.
The Paris-listed company, which acquired Bruichladdich for £58 million in 2012, booked underlying operating profits of €107m for the six months ended September 30.
It attributed the fall in profits to a "technical drop in volumes" as well as an "unfavourable mix" over the period.
Sales dropped by 5.9 per cent to €500.7m in organic terms, the company said.
Remy's Islay spirits, Bruichladdich single malt and gin brand The Botanist, continued to show double digit percentage growth, although net sales across the spirits division dropped by 8.3 per cent to €129.9m.
Sales of Remy Martin, the company's flagship Cognac brand, dropped by 3.1 per cent to €313.1m, with strong showings in the Americas, Europe, the Middle East and Africa offset by continuing challenges in China.
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