SWITZERLAND: Barry Callebaut nine-month sales volume up, revenue down

By just-food.com | 8 July 2005

Chocolate maker Barry Callebaut has reported a rise in sales volume of 4.2% for the nine months ended 31 May 2005, but lower cocoa bean prices and currency effects meant sales revenue was down by 2.5% at 3.024bn Swiss francs (US$2.32bn), compared with 3.1bn francs in the same period last year.

Net profit rose to 101.8m francs, compared with 78.8m francs last year.

"We are pleased that our traditional businesses with industrial and artisanal customers continue to do very well in a highly competitive environment," said CEO Patrick De Maeseneire. "They have contributed overproportionately to the group's operating profit. Our European consumer business, on the other hand, is still suffering from difficult market conditions, an unfavourable business mix and price pressure. This situation, together with the opportunity to realize additional cost savings, led us to intensify the current restructuring program in Germany. The goal is to make our consumer business the cost leader and to prepare it for profitable growth as of 2006/07, especially in customer label solutions."

Companies: Barry Callebaut