MILAN (Reuters) – Italian spirits group Campari said on Tuesday its third-quarter sales rose 12.8% on a like-for-like basis versus the same period last year, boosted by strong aperitif consumption in the summer.
However the maker of Aperol and Campari bitters flagged risks coming from rising input costs and accelerated investments in the coming quarter, sending shares down 1.5% after results.
“For the rest of the year, we expect the positive brand momentum and favourable sales mix to continue in the last quarter, helping to partially offset the intensifying input cost pressure, particularly logistics costs, accelerated brand building investments, as well as structure costs phasing,” Chief Executive Bob Kunze-Concewitz said in a statement.
(Reporting by Francesca Landini, editing by Cristina Carlevaro)
