logo
Share SHARE
FONT-SIZE Plus   Neg

Barry Callebaut H1 Profit Declines; Backs Growth Forecast - Quick Facts

Barry Callebaut AG (BYCBF.PK), a Swiss manufacturer of cocoa and chocolate products, on Monday said its first-half net profit declined 18 percent to 121.8 million Swiss Francs from 148.6 million francs last year due to higher operating expenses as well as higher financing costs related to the bond placement in summer 2011. In local currencies, profit fell 11.3 percent.

Sales volume grew 6.7 percent to 699,058 tonnes and again outperformed the worldwide chocolate confectionery market, the company said. Sales revenue increased 3 percent to 2.48 billion francs from last year's 2.40 billion francs. Sales grew 10.4 percent in local currencies.

The company noted that all regions and product groups contributed to the volume growth, which rebounded strongly in the second quarter.

CEO Juergen Steinemann said, "After an anticipated slow start in Q1, we regained momentum in Q2, in all Regions and across all Product Groups. Once again, we outpaced the global chocolate market. Several major new partnership deals were signed, confirming an important part of our business model. In the last six months, we initiated selective investments in our future growth. This temporarily affected our bottom-line results."

Looking ahead, the company said it is confident of reaching mid-term financial targets, even though the economic environment in Western Europe and North America remains fragile.

The company's four-year growth targets for 2009/10-2012/13 include on average 6-8 percent volume growth and average EBIT growth in local currencies at least in line with volume growth.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Computer and printer maker Hewlett-Packard Co. said Thursday after the markets closed that its second quarter profit fell 21% from last year, hurt by lower revenue and costs related to the planned separation of the company. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Accounting software maker Intuit reported a plunge in third-quarter profit, hurt by impairment charges, even as results topped Wall Street estimates, driven by growth in small business segment amid a strong tax season. Struggling teen-apparel retailer Aeropostale Inc. (ARO), Thursday said its first-quarter loss narrowed from a year ago, driven largely by stronger margins even as revenues continued to plunge dropped. Nevertheless, the company lost almost one-fifth of its market value in after-hours trade, with the...
comments powered by Disqus
Follow RTT