Coffee and tea group DE Master Blenders maintains 2013 targets
Newly-listed company DE Master Blenders sold less coffee and tea than expected in the past three months, the Financieele Dagblad reports on Tuesday.
Volumes were weak in Germany following ‘too aggressive’ price hikes and were also disappointing in Poland and Brazil, the company said in a first quarter trading statement. ‘Out of home’ services to offices and the hospitality industry were also down.
Nevertheless, developments in most of western Europe were ‘promising’, the company said in a statement.
Total sales were down €10m at €645m in the quarter, the first of the company’s split 2012/13 book year. Like-for-like sales in the company’s three main segments were up 1.1%.
The Amsterdam-based group was hived off by US food giant Sara Lee this summer and is maintaining its earlier forecast that total sales will grow 3% to 5% next year.
According to the Financieele Dagblad, the company plans to generate growth mainly through introducing innovative new products such as the bean-to-cup Senseo Sarista coffee machines.
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