The Swiss chocolate producer Barry Callebaut has reaffirmed its previously stated three-year sales and profit guidance, in spite of rising raw material costs.
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A spokesperson for the company today confirmed to just-food comments made in the local press by CEO Patrick de Maeseneire, who said the company still expected to achieve its three-year target of average annual operating profit growth of 8% to 10%, profit after tax growth of 12% to 15% and organic volume growth of 3% to 5%.
These targets cover the three-year period from the 2005/2006 fiscal year through to 2007/2008. Callebaut will publish its financial results for the current 2006/2007 fiscal year in November.
De Maeseneire also said the company intends to double sales in East Europe and Asia over the next three to four years. It currently derives 88% of its turnover from Western Europe and North America
Since February, the Swiss company has signed three major outsourcing deals with large confectionery groups, namely Cadbury Schweppes, Hershey, Nestlé, and de Maeseneire said he expected the outsourcing trend would continue and represented a big opportunity for the future.
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