• Half-year net profits dip by 0.5% to EUR57.3m (US$76.9m)
  • Sales in six months to end of June fall by 1.8% to EUR686.1m
  • Operating profits inch up by 0.6% to EUR121.2m
  • Improved Q2 boosts half-year after tough Q1
Gruppo Campari released its half-year results earlier today

Gruppo Campari released its half-year results earlier today

Gruppo Campari has seen its half-year results bolstered by a stronger performance in Q2.

The Milan-headquartered spirits, wine and soft drinks reported figures for the six months to the end of June in which the second quarter led the line. In the first three months of this year, net sales fell by 8.4%, while sales in the half-year were flat.

CEO Bob Kunze-Concewitz:

“On the back of a weak first quarter impacted by Easter timing, the expected robust recovery in organic sales in most key brand market combinations led to positive full first-half 2014 results.

“Italy performed strongly in the first half, as did Latin America, driven by Brazil and Argentina. A strong recovery in the second quarter was also achieved in Russia, Jamaica and Australia which helped partly offset weak shipments in other key markets, which were also partially driven by phasing issues caused by production and route to market start-ups.

“Whilst these headwinds are likely to have a lag effect on the full-year results, we are confident that the overall positive organic sales trend will consolidate in the second half-year thanks to the normalisation of shipment trends across key markets.”

Trading in Campari's shares rose immediately after the release of the numbers: At 1124, they were up by 3.34% at EUR6.03.

For a full review of Campari's half-year results, click here.

For coverage of the company's post-results conference call, click here.

For analysis of the results, click here.

To read the company's official statement, click here.