Campari Q1 pre-tax profits hurt by payment restrictions

lunedì 13 maggio 2013 13:13
 

MILAN, 13 maggio (Reuters) - Italy's Gruppo Campari said on Monday its first-quarter pre-tax profit fell 25.4 percent impacted by the "one-off destocking effect" of payment restrictions on Italian food and beverage companies.

The maker of the bitter red aperitif of the same name said consumption trends and potential bad weather in Italy and the wider euro zone were the main challenges to recovery.

Group pre-tax profit was 39.4 million euros for the period, as weak business in Germany and Australia offset strong sales in the Americas, Eastern Europe and Russia, Campari said. (Reporting By Isla Binnie)