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DEO - Campari: Stock Is Too Expensive As Restaurants Remain Closed
Diageo plc
Davide Campari-Milano S.p.A.'s (Campari) (DVDCF, DVDCY) bottom line will suffer from COVID-19, halving the profit for this year. This effect might not have fully been reflected in the share price.
The first indication of the COVID-19 impact can be seen in Q1 2020 results, where organic revenues have declined by EUR 20mn or 5.3% to EUR 360mn and the pretax profit was down 52% or EUR -33mn to EUR 31mn.
Campari generates 60% of its revenues from off-premise sales with such brands as Wild Turkey, Cabo Wabo, SKYY Vodka liqueur, which have