Campari enjoys double-digit UK sales growth
Brits’ surging demand for Aperol has helped supplier Campari enjoy 27.9% UK sales growth during the first nine months of 2019.
An Aperol spritz is typically associated with sun-drenched afternoons and the UK has not exactly basked in glorious weather this year.
Yet the brand has shrugged off adverse weather conditions to enjoy strong double-digit growth across northern Europe and lead the British arm of the business to 27.9% year-on-year growth.
Overall the firm reported sales of €1.3 million for the first nine months of the year, which represents organic growth of 6.9%. The group’s pre-tax profit was up down 1.7% on a reported basis to €245.1 million, but up 10% before negative adjustments for the nine months.
Chief executive Bob Kunze-Concewitz said: ‘In the first nine months of 2019 we achieved strong organic sales growth, despite the tough comparable base and poor weather across northern Europe, driven by the positive underlying sales momentum in the core developed markets, particularly the aperitifs business.
“Key underlying profitability indicators grew ahead of organic sales development, thanks to a very positive sales mix, which helped offset the dilutive impact generated by the agave cost and the emerging markets sales recovery, as well as favourable phasing effects in the third quarter.
“The outlook remains unchanged and fairly balanced in terms of risks and opportunities on a full year basis. We remain confident in delivering a positive performance across all key underlying business indicators.”
The Americas represent 44.8% of the group’s turnover, and its sales there grew organically by 6.5%. Southern Europe, Middle East and Africa was up 8.1%, while Asia Pacific was up 0.9%.
Northern Europe grew organically by 8.3%, with Germany growing at 5.7% and Russia at 11.6%, but the UK was the star performer.
Campari also supplies its eponymous liqueur, along with Wild Turkey whiskey, Appleton Estate Rum, Wray & Nephew, Grand Marnier, Glen Grant whisky and Bulldog gin, among others.