UPDATE 1-Remy Cointreau full-year sales rise 13 pct

Thu Apr 22, 2010 2:53am EDT

* Fiscal year sales rise 13 pct to 807.8 mln euros

* Growth quickens in final 2009/10 quarter thanks to China

* Confirms FY underlying current operating profit growth (Adds detail from statement)

PARIS, April 22 (Reuters) - French spirits maker Remy Cointreau (RCOP.PA) posted a better-than-expected 13 percent full-year sales rise as growth accelerated in the final quarter, thanks to demand in Asia and recovery in Europe.

In addition, the maker of Remy Martin cognac and Cointreau liqueur confirmed it expected growth for its current operating profit in the 2009/10 financial year which ended March 31.

Sales reached 807.8 million euros ($1.09 billion), compared with 739.4 million euros in a Thomson Reuters I/B/E/S poll.

On a like-for-like basis, revenues rose 12 percent during the fiscal year.

Remy Martin cognac, its biggest division, saw sales rise 30 percent to 405.7 million euros, helped by higher prices and Chinese demand, while liqueur and spirit sales grew 5.4 percent.

Champagne sales fell 23 percent to 96.7 million euros, forcing Remy to take unspecified measures to restore operating profitability.

"With substantially rebalanced geographic markets, Remy Cointreau can now focus its efforts on developing its key brands in the manner they merit, albeit in an economic climate that one would hope improves," Chief Executive Officer Jean-Marie Laborde said in a statement on Thursday.

Remy Cointreau shares closed at 43.25 euros on Wednesday and have risen 21.5 percent so far this year -- nearly as much as in the entire previous year.

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