ITALIAN coffee giant Lavazza said yesterday it would focus on organic growth after posting a 12.5 per cent rise in 2017 core profits, boosted by overseas sales and the company’s recent acquisitions strategy.
Lavazza’s shopping spree has increased its scale in recent years. After buying French brand Carte Noire and Denmark’s Merrild, the Turin-based group last year purchased Canadian organic coffee firm Kicking Horse, and Italian coffee pods and machines company Nims.
Its chief exec said the group’s 6.3 per cent revenue growth – to €2bn (£1.7bn) from €1.9bn the year before – was three times the market average.
Sales rose in the UK, the US and in France, the group’s second largest market after Italy. Foreign markets represented just under two thirds of the group’s sales.
Earnings before interest, taxes, depreciation and amortisation were €200.8m from €178.5m in 2016.
BY GIULIA SEGRETI
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