Led by coffee segment.
Breville has recorded group revenue of $385.4 million for 1H18 – a 13.6% increase compared to the previous corresponding period. Its EBIT growth rate acceleration trend continued with a 12.3% increase compared to a 6.7% increase in the previous period.
Revenue for the ANZ region increased by 8.5% (or 9.3% on a constant currency basis) to $68.7 million, primarily driven by the beverage category with new products launched in the half, as well as continued momentum of existing products.
The first half of the 2018 financial year included new revenues in ANZ from the Aquaport acquisition and the Nestle Dolce Gusto distribution relationship. These additional revenue streams largely offset the impact of the expiry of the ANZ Phillips distribution agreement late in the 2017 financial year.
Breville recorded a 20% increase in revenue for the North America region to $191.2 million, generated from new products released within the last 12 months in the beverage and cooking categories.
Rest of World (ROW) revenues increased by 26.4% (or 29.5% on a constant currency basis) to $53.3 million, with both the Hong Kong distribution and UK business experiencing double digit growth in constant currency.
The first product developed by the group offshore development centre in China, the Smart Oven Compact Convection, was launched in 1H18. Products from the centre will leverage existing innovations to expand the current range with a much shorter time to market, leaving the Sydney team to focus on high innovation projects.
The go-to-market team continued to ‘launch’ as oppose to ‘release’ new products with all content for major new products developed and available prior to launch.