Campari group sees UK sales soar in first nine months of 2017
Italian spirits group Campari has reported a 23% upward surge in sales of its brands in the first nine months of the year.
The company said the growth had been driven by strong sales for a number of brands including Aperol, Campari, Grand Marnier, Wild Turkey bourbon, Bulldog gin, Glen Grant whisky and its Jamaican rums.
The UK was a star performer in the group’s Northern, Central & Eastern Europe division where overall sales were up 8.3%.
Globally, Campari reported an 8.1% increase in sales with adjusted group pre-tax profits of £224.6 million, a rise of 22.3%.
Chief executive Bob Kunze-Concewitz said: “We delivered very good results in the first nine months of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators.
"Looking at the remainder of the year, our outlook remains fairly balanced and unchanged.
"Macroeconomic environments in some emerging markets remain uncertain whilst the political uncertainty persisting in some regions might continue fuelling the volatility of major currencies against the Euro.
"Nevertheless, we remain confident in achieving a positive performance across key indicators for the year, driven by the outperformance of the high-margin global and regional priorities in key developed markets.
"We expect the gross margin to continue benefitting from the favourable sales mix despite being penalised by inflationary effects on material costs in emerging markets, as well as rising prices in some raw materials, particularly agave, which is set to rise significantly over 2018."