Remy Remains Cautious for Fiscal Year

Remy’s first half results were good overall thanks to improved profitability in Champagne, the “satisfactory growth” of top-of-the-range cognacs, as well as strong sales growth in emerging markets, such as China and Russia. However, more mature markets, like the UK and Germany, remained only satisfactory, while the US was “static” in the second quarter. Remy said it hasn’t felt the effect of the credit crunch as much as some of its competitors, but believes it will not last. The second