Campari meets estimates with H1 results | Progresiv
Gruppo Campari has reported first-half results that were in line with expectations, with growth being driven by improvement in the second quarter. 
For the half, sales were up 13.5% to 844.7 million euros (+6.8% organic), with adjusted operating profit up 11.6% to 163.4 million euros (+2.9% organic), and adjusted net profit surging up 21.1% to 93.5 million euros.
Sales in the Americas were up 26.1% (+7.6% organic), sales in Southern Europe, Middle East and Africa were flat (+2.8% organic), sales in North, Central and Eastern Europe rose by 12.6% (+13.8% organic), while sales in Asia Pacific were up 11% (+2.8% organic).
Campari said that sales of its Global Priority brands rose by 9.2% in the half, sales of brands termed as Regional Priorities grew by 11.5%, while those of Local Priorities edged up by 0.3%.
CEO Bob Kunze-Concewitz noted: “We delivered very good results in the first half of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators. The solid organic growth was achieved after an acceleration in the second quarter of both sales and profitability.” (www.kamcity.com)
