(Alliance News) - Compagnia dei Caraibi Spa reported that revenues for the first three months rose 4.2 percent year-on-year to EUR11.7 million from EUR11.2 million in the same period last year.

Like-for-like revenues were EUR11.4 million, up 1.9 percent from March 31, 2023.

At the end of March this year, the Net Financial Position was negative EUR11.1 million.

Edelberto Baracco, CEO of Compagnia dei Caraibi, said, "The first quarter is characterized by an undoubtedly challenging macroeconomic context in which consumers are placing increasing emphasis on the time of consumption and the quality of products. This signal that confirms the value of our portfolio and its correct positioning in the market context: also thanks to the entry of new brands, our selection is able to build a dialogue with the market to propose new consumption trends on the different channels."

"From a numbers point of view, these first three months are certainly affected by a base of comparison

particularly positive on the previous year - revenues in the first quarter of 2023 up 18 percent compared to the same period in 2022 - given a dynamic that saw a particular concentration of purchases from the B2B channel in the first quarter of 2022. We remain confident about the sales trend for the current year, thanks in part to the approaching summer seasonality, which is an important moment for our segment."

The stock of Caribbean Company is trading at EUR0.64 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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