DVDCF - Campari Group sales surge on European reopening

In a strong sign that Europe is open again for business, Davide Campari-Milano N.V. (OTCPK:DVDCF) sales soared in the first quarter.  The Milan-based producer of spirits, wines, and non-alcoholic apéritifs posted Q1 adjusted profit of €111.7 million and revenue of €534.8 million. The latter figure represented a 34.4% rise year over year and came in at €46.58 million above analyst estimates.  “Overall we had a very solid start to the year with continuing underlying momentum and strong on-premise recovery in Europe,” CEO Bob Kunze-Concewitz said.  that stockpiling accounted for nearly half of the increase. The recovery in Europe was led by Southern Europe, wherein Italy saw an over 70% jump in sales. Germany in the Central European region was also noted as a particular strength, with sales surging over 33% as consumers capitalize on reopened bars and bars attempt to front-run price hikes.  On the back of the recovery in

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Campari Group sales surge on European reopening