Friday, August 10, 2018

Wray & Nephew Rum Sales Surpass $6 Billion at Half-Year

     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.