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Higher Coffee Prices Help JDE Peet’s Beat Sales Estimates

  • Dutch coffee seller’s revenue rose nearly 20% in first half
  • Shares rose as much as 9.5% in Amsterdam after earnings

Dutch coffee seller JDE Peet’s stock surged after consumers paid higher prices to drink its coffee, helping earnings beat estimates in the first half.

The owner of Douwe Egberts and Pickwick said it increased prices by less than 1 euro-cent per cup on average but it was enough to drive revenue up by nearly 20% to 3.9 billion euros ($3.97 billion), beating market expectations, according to a statement on Wednesday.