Business
Why the Breville (ASX:BRG) share price stormed 46% higher in 2020
The Breville Group Ltd (ASX: BRG) share price was an outstanding performer in 2020.
The appliance manufacturer’s shares surged an impressive 46% higher over the 12 months.
Why did the Breville share price surge higher?
Investors were scrambling to buy the company’s shares for a number of reasons in 2020.
One was its strong performance during the pandemic. A shift to cooking and working at home led to an increase in demand for whitegoods such as cooking equipment and coffee machines.
This underpinned strong revenue and profit growth in FY 2020. For the 12 months ended 30 June, Breville reported a 25.3% increase in revenue to $952.2 million and an 18.2% lift in gross profit to $320.6 million.
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