Lavazza posts higher sales, profit despite surging coffee prices and weak demand
Tweet
Share
E-mail
Lavazza products are displayed on a shelf in a supermarket in Sarajevo, Bosnia and Herzegovina, October 29, 2024. REUTERS/Dado Ruvic
MILAN, March 30 (Reuters) - Italian coffee maker Lavazza on Monday posted an increase in annual revenue and profit despite persistently high bean prices and weaker global demand.
Revenue rose 15.7% to 3.9 billion euros ($4.48 billion), driven by strong growth in North America, where sales climbed 27% despite U.S. President Donald Trump's import tariffs.
The group's core profit increased 8.8% to 340 million euros, even as costs rose.
The 130-year-old company said the sector continues to face pressure from high green coffee prices, regulatory uncertainty and a logistics crisis that has pushed up costs and lengthened delivery times, all of which contributed to a global contraction in sales volumes.
"These first months (of the year) have been marked by further serious geopolitical tensions, which will also impact on companies' operating costs", Antonio Baravalle, CEO of the Lavazza Group, said in a statement.
($1 = 0.8701 euros)
(Reporting by Elisa Anzolin; EDiting by Kirsten Donovan)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. debt tops $40 trillion
- EU sends helicopters, firefighters to Serbia to tackle wildfires
- Seven dead in UK after vehicle travelling wrong way hits police car
Create E-mail Alert Related Categories
ReutersRelated Entities
Donald J. TrumpSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
