Source: Shaken Daily
While challenging conditions in Italy plagued Gruppo Campari in the first half of 2013, solid growth in the Americas—both organic and via acquisition—led to double-digit sales growth for the company. Campari’s sales rose by 13% to €698.6 million ($929m) for the first six months of the year. Although that result fell short of analysts projections—which were generally calling for sales of around €710 million ($944m)—it represented a return to organic growth (+1.4%) in the second quarter, following a first quarter in which sales endured a 9% organic drop.
Campari’s home market of Italy (which accounts for around 25% of group sales) has been a drag on the company this year, as the destocking effect that impacted its first quarter results was coupled with weak consumption trends that led to an overall decline of 15.7%.
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