The UK arm of a global coffee enterprise, headquartered in Uxbridge, has reported significant financial growth for 2023. Recently filed accounts with Companies House indicate that the division’s turnover reached an unprecedented £102.3 million, up from £92.5 million in the previous year.
In addition to the remarkable turnover, pre-tax profits saw a noteworthy rise, increasing from £1.3 million in 2022 to £1.5 million in 2023. Furthermore, the company expanded its workforce, with the average number of employees growing from 87 to 98, as disclosed by City AM.
The board expressed satisfaction with the 2023 results, describing them as satisfactory.
Globally, the broader group, which remains family-operated since its inception in Italy in 1895, posted a revenue of €3.1 billion for the same financial year. This represents a 13% increase from 2022. The group’s EBITDA was reported at €263 million, accompanied by a net profit of €68 million.
The parent company also experienced significant sales growth across various international markets, including the United States at 9.8%, Poland at 21%, Italy at 6.3%, and France at 5.8%. In the words of Chief Executive Antonio Baravalle, “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.”.
Overall, the Uxbridge division’s 2023 performance mirrors the strong global trends observed within the broader group, underlining a robust and strategic growth trajectory.