ITALY: Campari nine-month figures up - just
Davide Campari-Milano has posted a slight rise in net sales and profit for the first nine months of the year.
The Italian wine and spirits group said today (14 November) that sales for the nine months to 30 September were up 3.3% on the year, reaching EUR543.3m (US$635.2m).
The increase resulted from organic growth of 2.2% and a negative exchange rate effect of 0.1%, the company said. External growth of 1.1% came from sales of third-party brands that Campari distributes, including Jack Daniel's in Italy and Martin Miller's gin in the US.
Trading profit for the period was up by 3.1% to EUR158.6m, while EBITDA increased by 5.8% to EUR135.9m.
Spirits sales rose 4.8%, buoyed by a strong performance from SKYY vodka in the US. Sales of Campari's namesake brand inched up 1.1%.
A strong showing from Cinzano vermouth gave a boost to Campari's wine operations. Cinzano sales leapt 15% on the back of rising sales in Europe, a performance that drove total wine sales up by almost 6%. However, Campari saw soft drinks sales fall 2% due to a disappointing Lipton Ice Tea sales.
Sales in Italy, which account for almost half of Campari's total revenue, inched up 0.3%. The company put in a stronger showing in the rest of Europe, with sales up 5.8%, thanks to a strong performance in Germany, Switzerland and other major European markets.
Growth in the US and Brazil drove sales in the Americas up by 5.5%, while sales to the rest of the world rose 11.3%.
Flavoured vodkas have been a major success story in the US where they have prospered on the back of strong sector growth and premiumisation. With European markets also showing consistent growth and so...
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....
Pernod Ricard has confirmed that it will make an offer for Allied Domecq this week, according to yesterday's press reports....
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