French spirits group Rémy Cointreau reported a 6% decline in third-quarter sales on Friday, in line with expectations, citing a normalization of cognac consumption in the US and demand after two years of "exceptional growth".

Rémy Cointreau's third-quarter sales totaled 414.3 million euros. Analysts were expecting a 6.7% decline on a like-for-like basis, according to a consensus provided by the company.

The maker of Rémy Martin cognac and Cointreau liqueur is still expecting strong organic growth for its 2022-23 fiscal year ending March 31.

"(...) the level of global consumption should normalize over the coming quarters, particularly in the United States, at a level that will remain well above that prevailing in 2019/20," says the company in a statement.

On Thursday, Diageo reported sales in North America below expectations, despite better-than-expected results at group level with rising prices and consumption of premium alcohol. (Written by Kate Entringer, edited by Tangi Salaün)