Long summer boosts sales at Magnum

The long European summer was a boon for ice cream maker Magnum. The parent company of Magnum, Cornetto, and Ben & Jerry’s saw its quarterly revenue rise by more than 12% and is raising its annual forecast. Yet there are also dark clouds on the horizon: the founders of Ben & Jerry’s are trying to spin off their brand from the parent company.

Pistachio ice cream is a hit

The Magnum Ice Cream Company has successfully navigated its first independent summer. In the third quarter, revenue rose by 12.1% to 2.51 billion euros. Organic growth—excluding currency effects and acquisitions—stood at 9.6%. With this, the ice cream company easily surpassed analysts’ expectations of 4.6%.