ITALY: Campari continues upward trend in Q1
Italian drinks group Campari has continued its positive run of results by posting a 24% increase in sales in its first quarter, leading to a 17% leap in profits.
Sales totalled EUR182.1m (US$232m) for the first three months of the year, up over 9% on an organic basis. First-quarter trading profit hit EUR54.3m.
Campari said spirits sales leapt by almost a third, due to a good performance by the company's spirits stable and third-party brands like Jack Daniel's, for which Campari holds the distribution rights in Italy. Campari brand sales by almost 9%, while SKYY vodka sales leapt almost 23%.
The company said sales from its wine division, which represents 10% of sales, saw revenues inch up 1%, as a strong showing from Sella & Mosca wines offset declining sparkling wine and Cinzano sales. Meanwhile, soft drinks sales rose 17%.
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