Campari sees double-digit growth in Australia
Strong sales of Aperol, Wild Turkey and Glen Grant have helped Campari deliver double-digit growth in Australia in its third quarter.
Globally Campari reported sales of €1200.6m, up 6.6 per cent and pre-tax profit of €235.5m, which was up 4.8 per cent on the prior corresponding period.
Speaking about its overall performance, Campari stated: “[There was] solid growth in high-margin developed markets, driven by the US, Western Europe and Australia, while softness in emerging markets continued due to macro-volatility and tough comparison bases, especially in South America.”
Bob Kunze-Concewitz, Chief Executive Officer, added: “In the first nine months 2018 we achieved a very positive net sales organic growth, accelerating in the third quarter, driven by the continued outperformance of the key high margin global and regional priorities in the core developed markets.
“The favourable sales mix continued to drive the growth of profitability and margin expansion, and helped compensate the expected adverse forex effect as well as the impact from the divestments of non-core businesses. Looking at the remainder of the year, our outlook remains broadly unchanged and balanced in terms of risks and opportunities. We remain confident in achieving a positive performance across key underlying business indicators in the year.”
Campari’s Asia-Pacific region delivered a very strong performance across the board, with double digit growth in Australia, Japan and China.
Australia’s growth of 12.9 per cent, was a big driver in the region’s overall growth of 16.3 per cent.
Campari said Australia delivered “very satisfactory growth accelerating in Q3 as brands consistently outperformed the spirits market in all key categories: double-digit growth in Wild Turkey RTD, Wild Turkey bourbon, Aperol, Campari, GlenGrant, SKYY and Espolòn.”
In detailing the net sales for Australia, the country was up 4.0 per cent from €56.9m to €59.2m, accounting for 67.6 per cent of total Asia Pacific sales.