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Massimo Zanetti sees coffee sales volumes rising this year

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Massimo Zanetti expects the growth in roasted coffee sales volumes, and profits, to accelerate in 2017.

The Italian coffee maker, which owns the Segafredo, Chock full o'Nuts and Puccino's coffee brands, forecast sales volumes to rise by 2-4% in 2017, extending the gains of the previous year.

MZB forecast profits to grow by 5-7% in 2017, with adjusted earnings before interest, taxation, depreciation and amortisation up 10-12%.

Rising volumes

In 2016 the company's roasted coffee sales volumes rose 2.9%, to 131,161 tonnes as rising sales in Europe and Asia outweighed declining volumes in the Americas.

The company saw volumes "boosted by the consolidation of Portugal's Nutricafes, which the group bought in July".

But MZB said that the increase in volumes was outweighed by "the decrease in the average sales price of roasted coffee, following the decrease in the average purchase price of green coffee.

Shares rise on higher profits.

Revenues fell, down 2.6% year-on-year, to E917.5m, over 2016.

Consolidated gross profit grew by 5.6% year-on-year, to E385.5m over the same period.

Massimo Zanetti shares in Milan rose by 1.4%, to E7.22, on Wednesday.

By William Clarke

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