French drinks major Rémy Cointreau has posted a 6.3% decline in its H1 2013 total sales to €558m, compared to €596m in the corresponding period last year.
The company attributed the drop in sales to challenging economic environment in Europe as well as slowdown factors in China.
Group brand sales for the first six months of fiscal 2013 were down 8.4% to €447.6m, compared to €488.4m a year ago. Rémy Martin brand sales for the period decreased by 13% to €327.2m, while Liqueurs & Spirits sales increased by 7.2% to €120.4m.
However, sales of Partner brands were up 2.8% to €110.5m in H1 this year, compared to €107.4m in the same period of last fiscal.
During the period, the company completed the sale of Larsen Cognac to the Finnish firm, Altia. This sale included the brand, industrial and commercial assets, along with the inventories needed for the entity to operate as a going concern.
