The new strategy of coffee group JDE Peet’s is paying off: the company saw its revenue grow 16.4 % last year, in line with expectations.
Growth in emerging countries
CEO Fabien Simon said he was very pleased with the progress his company made since introducing an adjusted strategy two years ago. Indeed, it looks like the coffee holding company performed better than analysts had expected.
In its preliminary annual results, JDE Peet’s reports revenue growth of 16.4 %. Organically, sales rose 11.3 %. Gross profit climbed 3.3 %, but on an adjusted basis EBIT fell 5.9 % due to higher expenses. The company will announce its final results in February.
Simon is especially pleased with accelerated growth in the United States and emerging markets, while the Pickwick tea and Senseo coffee producer is also stronger online and in the single-serve domain. In the medium and long term, JDE Peet’s is maintaining its targets.