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Illycaffè nine-month core profit up despite 20% increase in costs

Reuters
·1 min read
The logo of Italian illy coffee is seen in Paris

MILAN (Reuters) - Italian premium coffee maker Illycaffè said on Wednesday its revenues rose 15% and its core profit improved in the first nine months of the year despite a 20% increase in raw materials and logistics costs.

The group, which is planning to go public by 2026, expects a double digit jump in revenues and a growth in profitability this year.

Illycaffè said its revenues were helped by a recovery of out-of-home consumption and they grew 32% in the Unites States, a key market in the group's strategy.

(Reporting by Elisa Anzolin, editing Federico Maccioni)