ITALY: Campari H1 figures on the rise
Davide Campari-Milano has posted a rise in H1 consolidated net profit. The Italian drinks group announced today (8 September) that net profit for the first six months of 2004 increased by 10.7% year-on-year, hitting €30.9m (US$37.4m).
Net sales for the period also rose, by 10.4% to €367.4m. While wine sales increased by 22.9% in the period, spirits sales also rose, by 10.4%. Sales of soft drinks registered a 3% increase year-on-year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) totalled €84.7m, a rise of 7.4%. Operating profit totalled €58.3m, marking a 2.4% rise.
The company credited the strong figures to "the consolidation of the newly-acquired Barbero 1891 S.p.A. and to a good performance from the Group's existing business, despite the ongoing impact of negative exchange rate movements", Campari said in a statement.
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