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. […]
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Lavazza posts higher sales, profit despite surging coffee prices and weak demand
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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)