ITALY: Wild Turkey boosts Gruppo Campari Q3

By just-drinks.com editorial team | 11 November 2009

Gruppo Campari has reported a rise in net sales for the first nine months of 2009, boosted by its acquisition of Wild Turkey Bourbon.

Net sales for the nine months to the end of September rose by 7.2% to EUR696.5m (US$1bn), compared to EUR649.6m in the same period of 2008, the Italian drinks group said today (11 November).

Wild Turkey Bourbon, which Campari acquired from Pernod Ricard earlier this year for EUR417.5m, contributed strongly to sales in the third quarter. Like-for-like sales for the nine-month period, excluding acquisitions, fell by 1.3%.

Pretax profits for the nine months rose by nearly 15% to EUR133.7m, with operating profits (edbitda) up 19% to EUR175.8m.

"Campari results in the first nine months of 2009 were satisfactory," said the Milan-based firm. "The existing business returned to positive organic growth in the third quarter of 2009 and the positive impact of acquisitions started to come through."

Destocking by distributors began to ease off in the third quarter, the group said.

"Going forward, we expect our organic performance to develop progressively more in line with the positive consumption trend of our key brands, thanks to a reduction in destocking effects in some key markets," said CEO Bob Kunze-Concewitz.

For the full announcement, click here.

Sectors: Soft drinks, Spirits, Wine

Companies: Campari, Pernod, Ricard