Reuters
LONDON (Reuters) -Remy Cointreau reported a far smaller-than-expected fall in fourth-quarter sales on Friday, saying "significant growth" in China helped drive performance at its cognac division well above analysts' expectations. Remy, which makes over 70% of its sales from cognacs such as Remy Martin, has been grappling with difficult conditions in its two major markets, China and the United States, forcing it to cut its full-year forecast in October. Analysts had been expecting it to post a 3.4% decline in organic sales in the fourth quarter, with flat cognac sales at 0.5%.