North America the stand out.
The Breville Group has reported an increase in net profit after tax (NPAT) of 8.7% and revenue was up 7.7% for the full year ended 30 June, 2018, impacted by higher net finance costs and one off tax adjustments.
The Australia and New Zealand (ANZ) region delivered revenue growth of 8.6% or 9.1% in constant currency, in what Breville described as a “somewhat challenged” retail environment. Australia delivered low double digit growth and New Zealand softened off a very strong performance in FY17. New product releases in beverage and to a lesser extent food preparation drove the increase.
Breville CEO Jim Clayton
In the distribution segment, revenue was down 7.8% on the prior year. FY18 included new revenues in ANZ from the Aquaport acquisition and the Nestle Dolce Gusto distribution relationship. These revenue streams largely offset the impact of the expiry of the ANZ Philips distribution agreement in late FY17.
The North America region was the standout performer of the Group with revenue growth of 14.5% or 16.3% in constant currency. Beverage and cooking benefited from FY18 product launches as well as increases from existing product, including those not released for the full period.
Rest of World (ROW) revenue increased 9.9% or 10.7% in constant currency. During the second half of FY18, the Sage brand was launched directly into Germany and Austria. Higher revenues flowed primarily from new product releases, as well as the addition of a new ROW partner, Nespresso.