Ferrero Reports Strong Turnover Growth Amidst Market Challenges
Ferrero, the esteemed producer of Nutella hazelnut spread, announced an impressive 8.9% increase in turnover during the fiscal year concluded on August 31st. The company achieved a turnover of 18.4 billion euros (approximately $19.2 billion), defying volatile commodity prices and inflationary pressures.
Headquartered in Luxembourg and with its origins in Italy, Ferrero strategically increased its investments by 18% in the preceding financial year. This investment was driven by the company's objective to bolster its manufacturing capacity and diversify its product offerings, which encompass ice creams and biscuits.