Nutella owner the Ferrero Group sales soared 20.7% to £14.5bn (€17bn) in the full year, boosted by organic growth and new acquisitions.
The results follow a year of growth for the FMCG group, which last year completed the purchase of Wells Enterprises alongside its brands such as Blue Bunny, Blue Ribbon Classics, Bomb Pop and Halo Top.
Other acquisitions by Ferrero, whose portfolio includes Thornton’s Continental, Kinder Chocolate and TicTac, include the Italian bakery business Fresystem Group.
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Elsewhere, the group’s production capacity also expanded as its worldwide manufacturing plants grew to 37 from 32 the previous year, while its global workforce was bolstered by just over new 5000 roles.
Ferrero Group chief financial officer Daniel Martinez Carretero said: “We are pleased to report a period of strong growth despite the economic and geopolitical challenges, with continued inflationary pressures remaining a factor across the globe.
“In addition to revenue growth, the global workforce has also grown by over 5,000 people, which is a testament of the long- term vision of our business strategy.”
The news comes as a sharp contrast to rival FMCG Unilever, which posted “disappointing” result last week as its ice cream category made a loss in its fourth quarter.
