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Campari says Q3 spirits sales grew 12.8%, flags rising costs -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Campari bottles seen in Milan’s bar, Italy on September 4, 2018. REUTERS/Stefano Rellandini

MILAN (Reuters – Campari, an Italian spirit company, said Tuesday that its third quarter sales increased 12.8% compared to the previous year. This was due in part to strong aperitif and summer consumption.

Aperol maker and Campari bitters pointed out risks from increasing input costs, accelerated investments in next quarter and increased investment. Shares fell 1.5% following results.

“For the remainder of the year we expect the positive brand momentum & favourable sales mix will continue in the final quarter. Helping to partially offset intensifying input cost pressures, particularly logistic costs, and structure costs-phasing,” said Chief Executive Bob Kunze Concewitz in a statement.

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