German coffee retailer Tchibo Holding expects to report full year sales growth just shy of 10%.
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Chairman Dieter Ammer said both sales and profits would be robust in the year which is about to end, although he added that the company will not quite hit double-digit sales growth.
Nine month sales ended up 9% at €2.2bn (US$2.7bn).
Regulatory authorities are currently examining Tchibo’s agreement to buy a further 19.6% stake in Nivea owner Beiersdorf, which would raise its overall stake in the company to 49.9%. Ammer told Die Welt that he was confident the deal would eventually get a green light.
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