Lavazza: UK sales at Italian coffee brand pass £100m for the first time
Sales at the UK arm of coffee brand Lavazza have jumped past the £100m mark for the first time, it has been revealed.
The Uxbridge-headquartered division’s turnover totalled £102.3m for 2023, newly-filed accounts with Companies House show.
The new figure comes after Lavazza reported a turnover of £92.5m for 2022.
The results also reveal that its pre-tax profit grew from £1.3m to £1.5m over the same period.
During the year the average number of people employed by the UK division rose from 87 to 98.
Lavazza is a major sponsor of Wimbledon, Premier League side Arsenal as well as Ascot Racecourse. The company also operates a flagship store in London.
In a statement signed off by the board, Lavazza said its directors “consider the results for 2023 to be satisfactory”.
The wider Lavazza group was founded in 1895 in Italy and is currently run by the third and fourth generations of the family.
For the same financial year, the Lavazza group reported a revenue of €3.1bn, an increase of 13 per cent compared to 2022.
It also posted an EBITDA (earnings before interest, taxes, depreciation and amortisation) of €263m and a net profit of €68m.
In the US, Lavazza’s sales grew by 9.8 per cent, they surged by 21 per cent in Poland and they grew by 6.3 per cent and 5.8 per cent in Italy and France respectively.
Chief executive Antonio Baravalle said: “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.”