Swiss chocolate maker Barry Callebaut has reported a 10% increase in first-half net profit and said its restructuring programme is on track.

The company posted net profit of CHF83.6m (US$66.3m) for the six months to 28 February, compared to CHF75.9m in the year-ago period, reported Dow Jones News.

The company, which is the world’s largest industrial chocolate maker by sales and market share, said the result was helped by restructuring benefits following a series of acquisitions over the last few years. However, the result was below analysts’ expectations of CHF88.5m, mainly due to costs linked to the acquisitions.

First-half sales rose to CHF2.20bn, compared to CHF1.91bn a year earlier.