Nutella maker Ferrero reports 8.9% increase in revenues

Ferrero Reports 8.9% Revenue Growth Despite Challenges

MILAN (Reuters) - Ferrero, the maker of the Nutella hazelnut spread, reported on Thursday an 8.9% increase in turnover in the financial year ending on August 31, to 18.4 billion euros ($19.2 billion), despite volatile commodity prices and inflationary pressures.

The group, founded in Italy and headquartered in Luxembourg, said that it had increased its investments by 18% in the past financial year to increase manufacturing capabilities and expand across categories, including ice-creams and biscuits.

($1 = 0.9595 euros)

(Reporting by Elisa Anzolin, editing by Alvise Armellini)