Green Mountain Coffee Roasters (GMCR) released its annual sales figures for 2011, announcing annual revenue growth of 95 per cent. The impressive sales figures were largely attributed to sales of the Keurig brewing system, with K-Cup Portion Packs accounting for $1.7 billion of the company’s $2.65 billion in net sales for 2011. “The business continues to demonstrate extraordinary momentum as a result of broad consumer adoption of the Keurig Single Cup Brewing System,” GMCR President and CEO Lawrence Blanford said in a press release. “We are seeing continued evidence of strong consumer demand for both brewers and portion packs.” Market researchers NDP Group reported that Keurig brewer sales are up 73 per cent from the same month in 2010. Blanford said that the company is expecting even more sales in the holiday season through continued strong consumer demand. The increased revenue from K-Cup sales is due not only to a 76 per cent increase in sales, but also an 18 per cent increasing in price. The company said it lifted the price to offset higher green coffee and other input costs. Another 10 per cent increase in portion pack sales was due to GMCR’s acquisition of Van Houtte. Revenue from the company’s Canadian business unit, which includes the acquisition of Van Houtte completed last year, contributed around $321.4 million to net sales for the year.
Gross profit for the year was reported at $904.6 million, 34.1 per cent of net sales.
CQI to mobilise $500,000 to help coffee communities
Coffee Quality Institute (CQI) has announced the details of its 2026 Global Coffee Fund program at the African Fine Coffee...
