Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Spirits group Campari first half sales down 11% as coronavirus hits

Published 28/07/2020, 10:33
Updated 28/07/2020, 10:35
© Reuters. Campari bottles are seen in a bar downtown Milan

MILAN (Reuters) - Sales at beverage group Campari (MI:CPRI) fell 11.3% on an organic basis between January and June, with both Italy, the company's home country and the United States, its largest market, hit particularly hard by the coronavirus crisis.

Like-for-like sales, which strip out currency swings and any acquisitions or sales of assets, came in at 769 million euros (699.9 million pounds) in the first half with aperitif brands particularly penalised.

Earnings before interest and taxes (EBIT) excluding one-off items fell 31% to 130.4 million euros. EBIT margin on sales, an indicator for profitability, came in at 17% down from 21.3% in the same period last year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.