Campari makes strong start to year, after pricing boost

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Reuters UK

By Federico Maccioni MILAN (Reuters) -Italian drinks group Campari posted a 19.6% jump in like-for-like sales in the first quarter, thanks to price increases put in place last year as well as some temporary effects such as an earlier Easter. January-to-March total revenue was 667.9 million euros ($732.8 million) compared with 534.8 million euros a year earlier, the maker of Aperol and Campari bitters said in a statement. Adjusted operating profit margins rose to 23.9% from 21.4%, benefiting from a positive foreign exchange effect in the United States. The results marked a “strong start” to the…

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