Barry Callebaut has reiterated its profit targets and growth plans to expand in emerging markets at its AGM in Zurich, Switzerland.
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Chairman Andreas Jacobs told investors that the chocolate group plans to increase its EBIT by 10%, net profit by 12-15% and organic sales by 3-5% annually over the next two years.
Shareholders approved the proposed par value reduction and repayment of CHF10.50 (US$8.78) per registered share, instead of a dividend payment, and the re-election of Rolando Benedick, Markus Fiechter, Andreas Jacobs, Stefan Pfander, Andreas Schmid and Urs Widmer for another one-year term.
The payment of the par value reduction is expected to take place on 1 March, 2007.
Andreas W. Keller, who has been a member of the board since 1999, stepped down. “The board of directors wishes to thank him for his valuable contribution to the gratifying development of the company,” the board said.
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