Spirits group Campari first half sales down 11% as coronavirus hits
Reuters
Published Jul 28, 2020 10:33
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.
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Written By: Reuters
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