French drinks giant Remy Cointreau has warned that it is planning to raise prices despite a fall in sales for the past six months.
Sales for the period to 30 September were down by 2.5% for the maker of Remy Martin, to €365m.
However, operating profits rose by more than a quarter (27%) to €48.3m, with the group suggesting strong demand in emerging markets such as Russia and China for its flagship brand had offset sluggish sales in the US.
Chief executive Jean-Marie Laborde said a new round of price rises was inevitable.
““We haven’t felt a tangible slowdown yet but it has to come,” Laborde told the Financial Times. “We have no intention of giving up price increases even if we have to suffer in terms of sales or profits. We are targeting for the long term and our dream is to see our brands at the top end of the pricing category.”