Remy Cointreau said it was looking to the 2022/2023 full year with confidence after its sales rose by a stronger-than-expected 16.2% in the second quarter.

The company said its sales were boosted by a recovery in demand for its premium cognac in China.

Remy Cointreau reiterated it expected another year of strong organic sales growth and of operating margin improvement helped by strict costs control to mitigate inflationary pressures.

The pandemic has helped Remy Cointreau's long-term drive towards higher-priced spirits to boost profit margins, speeding a shift towards premium drinks, at-home consumption, cocktails and e-commerce.

"Ideally positioned to take advantage of new consumption trends and buoyed by its advance on roll-out of its strategic plan, Remy Cointreau is looking to 2022/23 with confidence," the company said in a statement.

It noted the first half would outpace the second half as consumption trends will normalise after two outstanding years while marketing and communication spending will be more sustained in the second half.

Sales for the three months to September 30 came in at €457.2m, marking a like-for-like rise of 16.2% which beat analysts' expectations for 14.3% growth.

Cognac sales rose 15.6% to €345.9m reflecting a very strong performance in China during the Mid-Autumn Festival.

Remy Cointreau's fiscal year starts on April 1 and ends on March 31.

For the full year Remy forecast a positive currency effect with reported sales now seen at €110-120m compared with €90-100m previously, and current operating profit at €55-60m compared with €50-60m.