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High-margin businesses lift Zanetti's 9-mth core profit 6.6 pct
November 9, 2017 / 1:56 PM / a month ago

High-margin businesses lift Zanetti's 9-mth core profit 6.6 pct

MILAN, Nov 9 (Reuters) - Massimo Zanetti said adjusted core profit rose 6.6 percent in the first nine months as the Italian coffee group continued to focus on higher-margin businesses including coffee pods and supplying restaurants, bars and coffee chains.

The owner of the Segafredo, Chock full o‘Nuts and Puccino’s coffee brands posted adjusted consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) of 49.2 million euros in January-September.

Net profit in the period came in at 8.2 million euros, down 22 percent due to one-off costs.

Revenue at the Veneto-based group was up 5.6 percent year-on-year to 708 million euros, with sales of coffee pods jumping 34 percent. (Reporting by Francesca Landini, editing by Valentina Za)

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