The º£½ÇÊÓƵ division of coffee giant Lavazza has seen its sales surpass the £100m mark for the first time, according to recently filed accounts with Companies House. The Uxbridge-headquartered division's turnover totalled £102.3m for 2023,up from £92.5m in 2022.
Pre-tax profits also saw an increase, rising from £1.3m to £1.5m over the same period. The company, which sponsors Wimbledon, Arsenal Football Club and Ascot Racecourse, also increased its average number of employees from 87 to 98, as reported by .
In a statement, the board described the 2023 results as "consider the results for 2023 to be satisfactory". The wider Lavazza group, founded in Italy in 1895 and still family-run, reported a revenue of €3.1bn for the same financial year, marking a 13% increase on 2022.
The group's EBITDA stood at €263m, with a net profit of €68m. Sales growth was also noted in the US (9.8%), Poland (21%), Italy (6.3%) and France (5.8%).
Chief executive Antonio Baravalle stated: "We will continue to look at strategic investments and synergies from the perspective of our long-term development to increase our competitive capacity and consolidate our presence on global markets."
