Barry Callebaut today (30 June) stuck to its mid-term targets for volume and EBIT growth despite the prospect of continued “volatile” and “high” commodity costs.
The Switzerland-based chocolate maker confirmed its forecast for annual volumes to rise 6-8% and for average EBIT – when measured in local currencies – to match that growth for the current financial year and for the next two fiscal years.
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The company reaffirmed its outlook after reporting its volume and revenue results for the first nine months of its current financial year, which ends on 31 August.
Barry Callebaut posted a 12.5% increase in revenue when sales were measured in local currencies for the first nine months of the year. In Swiss francs, revenue was up 1.6% at CHF3.99bn (US$4.78bn). Volumes rose 7.3%.
In April, when Barry Callebaut published its sales for the first six months of the financial year, its turnover climbed 13.2% in local currencies and 3.1% in Swiss francs. Volumes increased 7.1%.
CEO Juergen Steinemann said: “We were able to keep the growth momentum in a challenging market environment.”
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By GlobalDataShares in Barry Callebaut, which makes chocolate for the likes of Kraft Foods, Hershey and Nestle, were down 0.24% at CHF829 at 11:57 CET.
