Higher cocoa prices and costs linked to new factories in Russia and China have weighed on half-year profits at Barry Callebaut, the business-to-business chocolate maker.
Go deeper with GlobalData
The Switzerland-based group today (3 April) posted operating profit of CHF200.4m (US$196.6m) for the six months to 29 February, an increase of 1.3% on the year.
Barry Callebaut said cocoa prices jumped 50% between last September and the end of February and it had only been able to increase prices on branded consumer goods from the New Year.
The company said the start-up of factories in Russia and China had also had an impact on profits.
Nevertheless, first-half revenue climbed 21.1% to CHF2.6bn. Volumes were up 10.3%, growing three times faster than the global chocolate market, Barry Callebaut said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCEO Patrick De Maeseneire said the last six months had seen the business make “significant investments in our future”.
He added: “We are now optimally positioned to accelerate our profitable growth going forward and we will be able to fully benefit from scale effects.”
