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Campari Q1 organic sales up 5.7 pct, boosted by high-margin beverages
May 9, 2017 / 9:13 AM / 7 months ago

Campari Q1 organic sales up 5.7 pct, boosted by high-margin beverages

MILAN, May 9 (Reuters) - Davide Campari, the world’s sixth-largest premium spirits maker, said on Tuesday first-quarter sales excluding currency swings and M&A activity thanks rose 5.7 percent thanks to a strong performance of its high-margin brands.

Reported sales, which included the acquisition of Grand Marnier among other factors, were up 15 percent in the period at 376.6 million euros.

Adjusted operating profit rose 19.5 percent to 64.4 million euros, with a margin of 17.1 percent on sales.

French liqueur Grand Marnier, which Campari bought last year and started to consolidate in June, added 32.5 million euros to the group’s net sales in the first quarter.

Shares in the beverage company extended gains and were up 6.2 percent after the results. (Reporting by Francesca Landini and Maria Pia Quaglia)

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