* Q2 sales up 4.2 percent
* H1 sales down 0.7 pct, down 6.6 pct on like-for-like basis
* Says will meet debt covenant
* Shares up 6.9 percent to 13-month high
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PARIS, Oct 15 (Reuters) - French drinks group Remy Cointreau said second-quarter sales rose 4.2 percent, an improvement from a 7.5 percent fall in its first quarter and sending its shares to a 13-month high on Thursday.
That left Remy's sales down 0.7 percent to 363 million euros ($541 million) in the six months to September, or 6.6 percent lower on a like-for-like basis.
Brokers Oddo said Remy seemed to be past the worst, while CMN-CIC said the excellent figures would lead to a drastic change of its scenarios for the company.
Shares in Remy, whose brands include Charles Heidsieck, Piper-Heidsieck, and Remy Martin, and were up 6.9 percent at 33.90 euros at 0800 GMT, after an earlier 36.00 euro high.
The company said a 42 percent fall in Champagne sales weighed on first-half sales, while partner brand sales, such as Scotch whisky, rose 21 percent with cognac sales up 7.6 percent.
Remy said it was able to comply with the banking covenant (debt/EBITDA ratio) on its syndicated credit at the end of September.
It said it was keeping its long-term value strategy, focusing investment on developing its major brands.
It also reported positive results from a new distribution model and said this had helped it withstand the difficult economic environment affecting its markets.
For fundamental data about this company, please double click on http://xtra.session.rservices.com/rcardxtra?RIC=RCOP.PA (Reporting by Marcel Michelson; Editing by Greg Mahlich and Dan Lalor) ($1 = 0.6710 euros)