Gruppo Campari, the parent of Wild Turkey Distillery in Lawrenceburg, reported modest growth in annual sales in full-year figures released Tuesday in Italy.
For 2014, sales grew 2.4 percent to nearly $1.68 billion, according to the company. Profits were hampered by unfavorable foreign exchange rates and by sluggish sales in some key markets.
CEO Bob Kunze-Concewitz said that the figures were in line with expectations and that sales grew in the fourth quarter.
"Looking forward, we expect that the volatility in some emerging markets and the price competition in some core regions for the group will continue also in 2015, thus limiting the visibility at this stage," he said in a statement. "However, we expect the business overall and margins to be positively impacted by the positive performance of the top five spirit franchises, in particular the aperitifs business, the rum portfolio and the American whiskies."
U.S. sales, which account for almost 20 percent of all Campari business, were up less than 1 percent on soft demand for the Wild Turkey and Skyy vodka franchises, the company reported.
The Italian market, 26.4 percent of sales, was up 9.4 percent, driven by acquisitions and by growth in the aperitif market. Other European sales also grew but sales in Australia, a key bourbon market, were down.
Sales of the Wild Turkey franchise as a whole were off more than 3 percent last year although premium expressions showed growth. Sales of Wild Turkey American Honey, which was one of the first flavored whiskeys, were down by 7.7 percent last year in the key American and Australian markets because of increased competition from other flavored whiskeys. Last year Wild Turkey introduced American Honey Sting, flavored with ghost pepper, targeted at the popular cinnamon whiskey trend. Campari has not released any figures on Sting's sales.
Gruppo Campari will hold its annual shareholders meeting April 30 in Italy.