ITALY: Campari forecasts 30% sales growth
Italian drinks group, Campari, is forecasting 30% sales growth for 2002. That would boost turnover at the company to around €640m. Last year, sales at Campari rose by 13.9% to €494.3m.
Acquisitions have played a significant part in Campari's growth. Recent purchases include the Italian spirits company, Zedda Piras, which owns a 67% stake in the Sardinian wine group, Sella & Mosca, and a 50% stake in the US premium vodka company, Skyy Spirits.
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Campari has had its rating cut....
Davide Campari-Milano S.p.A. has seen a 2.6% rise in sales drive growth across all profitability indicators in the first half of the year....
US investment house Citigroup Smith Barney has cut its rating on Italian drinks group Davide Campari-Milano SpA from "buy" to "hold"....
Goldman Sachs has initiated coverage of Davide Campari-Milano shares....
Luca Cordero di Montezemolo, an independent director on the Davide Campari board, has handed in his resignation to the Italian company....
The Campari Group has seen a modest growth in its first quarter sales, although the performance led to a more impressive increase in other profitability indicators....
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