Campari says market conditions easing

The main Campari brand declined 6.6% at constant exchange rates, which the company said was down to destocking in the Brazilian market.

Skyy vodka was up a touch and the Aperol apertif brand grew by almost a third in Italy and export markets.

Group net profit was ahead by 0.5% at €60.1 million.

Bob Kunze-Concewitz, chief executive officer, said: "The reduction of destocking pressure in key developed markets gives us confidence that [those markets] performance will mirror more closely the positive consumption trend of our key brands going forward.

"Nonetheless, we will remain vigilant, maintaining our focus on cost containment, working capital and cash generation throughout the year."

He added that the successful integration of the recently-purchased Wild Turkey brand meant that Campari would be able to exploit its potential in the second half of the year.

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