Campari Reports Slowdown In Q4 Sales Growth
On Tuesday, Italy's Campari reported a slowdown in fourth-quarter sales, sending shares in the drinks-maker down more than 5%.
Sales rose by 2.1% on an organic basis in the October-December quarter, slowing from 6.6% growth in the first nine months of the year.
Organic sales strip out currency swings and any purchase or sale of assets.
Adjusted operating profit (EBIT) slipped by 0.4%, to €379 million, equivalent to 22.1% of sales – a slightly higher margin than in 2017.
"Unfortunately, today's in-line results may not translate into further upgrades to consensus, which could weigh on shares short term, given the strong run in the past 12 months," said Berenberg analyst Gonzalez Javier Lastra.