Swiss chocolate maker Barry Callebaut has reported higher full-year profit and sales but said it has temporarily shut three factories in Ivory Coast amid instability in the African country.
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The company said its three factories there are still fully operational but disruption to the country’s public transport system meant staff were unable to get to work, reported Reuters. It plans to reopen the factories once the situation has improved.
“In order to spread the risks, the volumes of cocoa sourced in other countries, such as Ghana or Indonesia, were increased and processing capacities in Europe, the United States and Ghana were expanded,” the Swiss company was quoted by Reuters as saying.
“Barry Callebaut is confident at this moment that it will be able to meet its contractual obligations vis-à-vis its chocolate customers,” the company added.
Barry Callebaut said net profit for the fiscal year 2004 rose 12% to CHF115.6m (US$98.3m), helped by a lower tax rate. Operating profit increased 9.4% to CHF228.3m, while sales rose 13.4% to CHF4.05bn.
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By GlobalData
