On an organic basis, Grupo Campari reported an 8.9% gain in sales in the third quarter.
The company’s earnings report focused on the first nine months, which presents a better picture. It shows organic growth of 6.6%, but a decline in reported sales of 2.5% after adjusting for exchange rate and similar effects. And a pre-tax profit up 4.8%.
The company said it had a favorable sales mix driven by Aperol, Campari, Wild Turkey and Espolòn, and, by geography, driven by U.S, Western Europe and Australia.
Bob Kunze-Concewitz, Chief Executive Officer: “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 favorable 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.”