Growth in all markets boosts Campari
Italian drinks group Campari reported sales of €848 million in the first half of the year, which its CEO praised as a “very strong start”.
The group’s sales represented organic growth of 8% and were driven by high-margin brands and recovery in key emerging markets.
Sales in the Americas (Campari’s biggest market) grew by 9.9%, sales in southern Europe, Middle East and Africa rose 7.7%, those in north, central and eastern Europe 7% and Asia Pacific 1.1%.
Aperol continued to be a leading brand performer, especially in Europe, as did Campari itself, while Wild Turkey and key rum brands such as Wray&Nephew and Appleton Estate led the way in the US and Australian markets.
CEO Bob Kunze-Concewitz (pictured) said: “After a very strong start to the year, our positive business momentum continued in the second quarter 2019, the peak season for aperitifs, helped by the late Easter effect, despite the tough comparable base as well as the poor weather in May across Europe.
“Key underlying profitability indicators grew ahead of organic sales development, thanks to a very positive sales mix, which more than offset the dilutive impact of the emerging markets recovery and the adverse effect of the agave purchase price, whose growing trend is expected to continue throughout the rest of the year.
“Reinvestments in brand building and sales capabilities initiatives are also expected to continue in the second half. Looking into the full year, the outlook remains fairly balanced in terms of risks and opportunities. The positive business momentum is expected to continue.”