MILAN May 11 Italian coffee maker Massimo
Zanetti said on Thursday it confirmed its full year
guidance after posting a 9.1 percent rise in first-quarter core
The group, which owns the Segafredo, Chock full o'Nuts and
Puccino's coffee brands, said earnings before interest, tax,
depreciation and amortisation (EBITDA) totalled 13.9 million
Revenue at the Veneto-based group for the first three months
of the year was up 7.1 percent with respect to the same period
last year, lifted by a 49 percent growth of the high-margin
single serve business.
Sales in the Americas accounted for 48.7 percent of the
group's revenues, followed by those in Europe, 24.7 percent of
Excluding the contribution from Portugal's Nutricafe
business, consolidated last September, the company's
consolidated revenues were up 2.7 percent in the first quarter.
(Reporting by Giulia Segreti)