Monday 23 May 2022

Lavazza reports 16 percent rise in profits

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Lavazza reports 16 percent rise in profits. The company’s AGM approved yesterday 2014 results showing a 16 percent rise in net profit.

Lavazza said its net income rose to 127 million euros ($142.8 million) last year from 109.3 million euros in 2013.

Sales volumes rose 4 percent, while revenues were almost stable at 1.3 billion euros as strong growth in the United States (+27.6 percent), Britain (+16.9 percent) and Germany (+12.7 percent) offset shrinking consumption in Italy.

“Lavazza wants to be a leader in the sector,” said Chief Executive Antonio Baravalle adding that the Family-owned Italian company was ready to grow both internally and through acquisitions.

Ranked the world’s No. 7 coffee maker at the moment, Lavazza has agreed exclusive first rights on an option to buy coffee brand Carte Noire, one of the businesses the new JV Jacobs Douwe Egberts (JDE) must sell.

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