Barry Callebaut Sees Revenue Up 6% In Half Year
Chocolate maker Barry Callebaut has posted a 6.0% increase in sales revenue in the first half of its financial year, in local currencies (+3.5% in CHF).
The group said that volume sales broke the million-tonne mark in the period, growing by 2.4% for the period, with sales volume in its chocolate business growing by 3.5%.
'The increase in the chocolate business was on top of a strong prior-year base and well above the underlying global chocolate confectionery market, which was growing by +1.5% according to Nielsen,' the group said in a statement.
In the EMEA region, sales volumes were up 2.0%, with a significant gain in the second quarter, while in Asia Pacific, volumes were up 5.7%.
Net profit for the period was up 18.8% in local currencies (+15.1% in CHF) to CHF 199.1 million, due to a 'strong increase in EBIT and lower income tax expenses, partially offset by higher net finance costs', the company said,
“We have good visibility in our portfolio and expect a further acceleration in sales momentum," commented Barry Callebaut CEO Antoine de Saint-Affrique.
"This makes us confident we can deliver on our current mid-term guidance. Going forward, we remain committed to achieving consistent above-market volume growth and enhanced profitability, which is why we renewed our mid-term guidance6 for the coming three fiscal years.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.