Destocking depresses Campari

Actual sales dropped 0.4%, driven by continued destocking in selected markets, the Italian drinks producer said.

Sales of Skyy vodka grew by 8.2% based on constant exchange rates, while the Aperol aperitif was up by 22.6%.

Campari suffered from destocking, particularly in the Brazilian market, and saw sales decline by 3.5%.

Bob Kunze-Concewitz, chief executive officer, said: "Going forward, we expect to benefit from the consumption momentum behind key brands, the reduction of destocking pressure, as well as an improving input costs and currency outlook.

"We will maintain a cautious stance, with focus on cost containment, working capital and cash generation throughout the year."

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