Barry Callebaut has booked an increase in first-half sales and earnings, boosted by the contribution of the cocoa business it acquired from Petra Foods last year.
The company said today (3 April) that sales and operating profit growth was up by around one-fifth in the period to end-February. However, higher financing and tax costs subdued bottom line growth.
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Value sales rose by 21.5%, to CHF2.9bn (US$3.26bn), while volumes gained 17.6%. Stripping out the contribution from the acquired cocoa unit, sales rose 5.5%.
Operating profit increased 15.3%, or 8.8% on an organic basis. EBIT in the period totalled CHF201.7m.
Net profit gains trailed Barry Callebaut’s operating performance, rising 2.7% to CHF119.6m. The company said it was “negatively impacted” by “higher financing costs related to the acquisition and a less favorable tax mix”.
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