Tue 04/04/2023 13:14 PM
Global tea business Ekaterra grew its topline in 2022 after price increases more than offset volume declines, but earnings fell as a result of separation costs related to the group’s spinout from former parent Unilever, as well as increased spend on marketing, sources said.
Full-year revenue reached €1.898 billion, up 2.5% versus the prior year, despite a 47% drop in China and 23% drop in Russia. However, growth accelerated during the year, reaching 8.8% in the second half on continued price...
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