Sales of the Jamaica
rum brands owned by Campari Group rose above $6.1 billion over six months
ending June. Through J. Wray &
Nephew Limited, JWN, Campari holds the largest stake in the local market and as
such, the performance of its brands, led by Appleton and Wray & Nephew,
gives a measure of the activity in the overall rum sector. Campari said Jamaica's sales increased 14.8
per cent in the first half of the year "thanks to the double-digit growth
recorded in the period by all the main brands, such as Campari, Wray &
Nephew Overproof, Appleton Estate and other rums and local brands, especially
Magnum Tonic".
Globally, the Jamaica rums portfolio
represented 5.1 per cent of total sales for Campari group. Sales from the local
rum portfolio are up globally, but sales of the group are down some 4.4 per
cent to €778.2 million as at June 2018. Despite the dip in sales, group net
profit before tax increased to €166 million, up from €108.5 million a year
earlier.
"Wray & Nephew Overproof recorded
a good result in the first half, thanks to healthy performances in Jamaica, the
brand's core market, the US and the UK," the spirits company said. Within the Americas, Jamaica's double-digit
growth was only bettered in Mexico, where sales rose 16.1 per cent. "The Americas region closed the first
half with organic growth of 4.6 per cent driven by good performances by the US,
up 5.9 per cent; Jamaica, up 14.8 per cent; Mexico, 16.1 per cent and other
markets in the Americas region, which made up for the decline in Brazil and
Argentina," said Campari.
Read more at http://jamaica-gleaner.com/
