Global crises hit Rémy Cointreau's revenue

Britons are continuing to drink cognac from the French spirits company Rémy Cointreau, but weaker demand from China and Greece has pushed group sales down 9 per cent in the three months to 30 June.

Anti-corruption measures in China, slashing spending on entertainment by public officials, was among the factors that contributed to organic revenue falling to €223.3m (£155.3m) in the three months.

Sales of its Greek spirit Metaxa also fell “significantly” as spending tightened in the debt-laden nation.

However, it said: “The Rémy Martin brand enjoyed healthy momentum in the EMEA region, supported by Africa, the UK, France and Germany, as well as an acceleration in demand in the US for superior qualities.”