If you invented one of the world's greatest sandwiches - the toastie - you'd assume you'd be set for life, right? Sadly, that's not how markets work. Said inventor, Breville, has thankfully found another niche that continues to grind higher year after year: and that's the world's obsession with coffee. How much do we all love a hot cup of bean juice? Enough that Breville's currently on a roll.

By the numbers

Breville is riding high after a year where everything from its coffee machines to its corporate strategy seems to be hitting the mark. The appliance maker notched double-digit growth across all major markets, with net profit climbing nearly 15% to $136 million for the year to June.

Revenue rose 11% to $1.7 billion, with earnings before interest and tax up 10% to $205 million. Margins held steady at just over 12%, proving Breville could grow while keeping costs under control.

 Investors have long worried about Breville’s reliance on Chinese manufacturing, especially given shifting US tariffs. Earlier this year, we covered the company's plans to diversify production. And it’s already paying off.

As of June, about 65% of Breville’s US gross profit now comes from products made outside China, up from just 15% at the start of the program. By the end of the year, that figure should rise to around 80%, thanks to new lines coming out of Southeast Asia and Mexico . The company absorbed some one-off costs for storage, transport and engineering to make the transition work, but managed to deliver growth regardless.

The biggest driver remains coffee. Breville’s new lineup and a suite of premium accessories have been embraced by consumers worldwide. South Korea continues to be a breakout market, where high-end coffee kit is booming, while Breville also notched its first direct sales in China, a tantalising foothold in the world’s biggest consumer market. It might not make as much stuff there anymore but it's happy to take their money all the same.

The love of coffee was backed by cooking and food prep, which delivered steadier growth but added to gross margin gains. EMEA markets also recorded strong double-digit gains, with the Middle East rollout beating expectations.

Even with heavy investment in manufacturing diversification and new product launches, Breville ended the year with a net cash position of nearly $49 million. Operating cashflow stayed healthy, capex lifted to fund new tools and store-in-store expansions, and the company maintained fully franked dividends, up 12% to 37 cents a share .

Tariff headwinds in the US remain a risk heading into FY26, and management warned input costs are set to rise. But with a diversified supply chain, growing global appetite for coffee, and a steady hand on the balance sheet, Breville looks like it has found a recipe for sustainable growth. One that markets, and coffee drinkers, clearly approve of.