Campari: posts mixed results; shares weaker
(CercleFinance.com) - Italian spirits maker Campari's organic sales growth reached 2.
2% in the first three months of 2018, largely below consensus of 3.4%.
Campari said in a statement that net sales were 336 million euros in the first quarter, down 8.2% after exchange rate and perimeter effects.
Earnings before interest and taxes (EBIT) fell by 5.1% to 61.1 million euros.
In terms of organic growth, Campari said that gross margin was expected to continue benefiting from a favourable sales mix.
After these mixed results, the Milan-listed Campari shares were down 0.6 percent.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2% in the first three months of 2018, largely below consensus of 3.4%.
Campari said in a statement that net sales were 336 million euros in the first quarter, down 8.2% after exchange rate and perimeter effects.
Earnings before interest and taxes (EBIT) fell by 5.1% to 61.1 million euros.
In terms of organic growth, Campari said that gross margin was expected to continue benefiting from a favourable sales mix.
After these mixed results, the Milan-listed Campari shares were down 0.6 percent.
Copyright (c) 2018 CercleFinance.com. All rights reserved.