February 28, 2017 / 11:06 AM / 9 months ago

Campari's 2016 sales rise on strong European demand

MILAN, Feb 28 (Reuters) - Davide Campari, the world’s sixth-largest premium spirit maker, said on Tuesday sales rose 4.7 percent on an organic basis last year, thanks to a good performance in northern, central and eastern Europe.

Headline sales, which include impacts from currency fluctuations and M&A, increased 4.2 percent to 1.73 billion euros ($1.83 billion), broadly in line with a 1.72 billion euro forecast by analysts polled by Reuters.

French liqueur Grand Marnier, which Campari bought last year and started to consolidate since June, added 81.5 million euros to the group’s net sales.

The maker of Campari bitter said adjusted operating profit rose 6 percent to 352.5 million euros, with a margin of 20.4 percent on sales, as high costs for advertising and promotion capped improvement. ($1 = 0.9439 euros) (Reporting by Francesca Landini and Maria Pia Quaglia; editing by Agnieszka Flak)

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