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By Dominique Vidalon

PARIS, June 4 (Reuters) - Remy Cointreau's RCOP.POA CEO Franck Marilly said on Thursday the embattled spirits group aimed to boost operating profit by around €100 million ($116.1 million) by 2028/29 and double the size of sales in travel retail and emerging markets, under a three-year transformation plan launched in April.

The maker of Remy Martin cognac and Cointreau liqueur also reported an 11.5% drop in annual organic operating profit for the fiscal year of 2025/26 ending March 31, and predicted a return to organic sales growth and a slight improvement in current organic operating profit margin for 2026/27.

Remy Cointreau has been facing a sector-wide downturn amid soaring living costs and the impact of tariffs in its two biggest markets, the U.S. and China.

The stock has tanked since 2023, losing more than 74% of its value amid years of steep sales declines, repeated cuts to sales forecasts and the scrapping of 2030 sales targets due to downturns in its major markets.

Marilly has promised to revive the company's performance and make it less vulnerable to economic cycles, even if that meant cutting cognac prices to grow volumes.

The group said it would launch a series of "sizeable" growth projects to drive sales, including a new innovation for Remy Martin in the U.S. in the first quarter of 2027/28.

Group operating profit fell 11.5% on an organic basis to €165.4 million for the year ended March 31, 2026, which compared with average expectations of a 12.8% fall in a company-compiled consensus of 16 analysts.

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