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Dow Jones Newswires: Remy Cointreau says strong U.S. growth boosts sales

Remy Cointreau SA RCO, +0.38% said Tuesday that sales rose in the initial quarter of its fiscal year with a confident performance across brands, and confirmed guidance for 2022-23.

The French drinks group reported sales of 409.9 million euros ($418.8 million) in the 90 days to June 30 from EUR293.1 million the entire year earlier. On a natural basis, sales rose 27% on year.

The business said it benefited from strong activity in the U.S. and continued recovery in the Europe, Middle East and Africa region, in addition to a rebound in China.

Remy Cointreau said it expects to join up strong growth in the entire year, having an improvement in today’s operating margin driven by way of a resilient gross margin despite inflation and by control over overhead costs.

In addition, it said it foresees a confident currency aftereffect of between EUR90 million and EUR100 million on sales and of between EUR50 million and EUR60 million on current operating profit for 2022-23.

Write to Giulia Petroni at giulia.petroni@wsj.com

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