Gruppo Campari has slowed the fall in profits in its year-to-date, helped by a strong Q3, and expects its final quarter performance to “stabilise” the business.
Net profits in the nine months to the end of September fell by 14.9% to €149.5 million, the Milan-headquartered group said yesterday. Sales in the period were up 13% to €1.05 billion, while operating profits slid by 8.4% to €193.9 million.
In its first-half the firm had reported a 26.1% drop in net profits.
In Q3, net profits rose by 8.1%, as sales climbed by 13% to 353.9m. Operating profits in the three months came in at €73.4 million, up 8.2%.