Remy Cointreau, France's second largest alcohol producer, reported an acceleration in organic revenue growth in the second fiscal quarter to 9.1% from 5.9% in the previous quarter. Experts had expected less significant acceleration – up to 7.8%. The size of quarterly revenue amounted to 304 million 700 thousand euros. The company reported that high demand in China had a positive effect on sales growth, as well as a change in its sales strategy, which is reflected in a shift from low-cost to more expensive brands. Growth in sales of cognac Remy Martin was 11.7%. Liquors and strong alcohol in the reporting period were sold 0.8% more than in the previous quarter, but the company predicts that in the next quarter their growth will be more significant.
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