In a standout performance amid a generally sluggish consumer market, Australia’s Breville Group has reported a revenue exceeding USD 1 billion, fueled by robust sales of coffee machines, particularly in the United States.
The Sydney-based company announced a 7.5 percent increase in net profit, reaching just under AUD 120 million (USD 81 million) for the fiscal year ending in June.
Group Chief Executive Officer Jim Clayton attributed this impressive growth to the ongoing surge in coffee consumption.
Breville, known as Sage in the UK, is renowned for its sophisticated range of espresso machines, catering to both entry-level users and professional baristas.
While instant coffee brands and major cafe chains like Starbucks have faced challenges in recent years, the specialty coffee sector has experienced a significant upswing.
More consumers are opting for coffee from specialty shops or purchasing locally roasted beans to enjoy freshly brewed coffee at home.
The International Coffee Organization reports a 10 percent increase in coffee exports over the past year, accompanied by rising prices.