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Gruppo Campari confident in market recovery
Gruppo Campari is looking forward to seeing advertising and promotional outlay return to pre-recession levels in 2010, as confidence returns to key markets over the course of the year.
The Italian company, which last year bought Wild Turkey Bourbon from Pernod Ricard, today reported net profits of €137 million for the year to the end of December, representing an 8% increase on 2008.
Net sales grew by 7% for the year, but like-for-like sales saw a 1% drop.
Gruppo Campari CEO Bob Kunze-Concewitz said: “Looking forward to 2010 the group is confident of the positive development of the business, despite a relatively volatile environment.
“Hence, this will allow advertising and promotional spend to return back to a normalised trend, as the group expects accelerated competitive pressure in key markets.
“This year, moreover, we will benefit from the full year effect of the consolidation of recent acquisitions in the group’s distribution network.
“With regards to our key brand and geography combinations, the group expects an overall balanced situation in terms of risks and opportunities.”
Alan Lodge, 31.03.2010