Barry Callebaut AG (BYCBF.PK), a Swiss chocolate and cocoa products maker, Wednesday reported profit before tax of CHF 105.98 million for the first half, significantly lower than CHF 288.17 million in the comparable period a year ago, mainly due to one-off expenses related to the implementation of BC Next Level strategic investment program.
Net profit declined to CHF 76.78 million or CHF 14.20 per share from CHF 234.31 million or CHF 42.87 per share last year.
Net profit on a recurring basis was CHF 215.8 million, down 7.9 percent year-on-year.
Earnings before interest and taxes or EBIT of CHF 178.1 million for the first half, 48.9 percent lower than CHF 348.4 million in the comparable period last year.
EBIT on a recurring basis was CHF 298.1 million, lower than CHF 308.1 million last year.
Revenue for the period, however, grew 11.1 percent to CHF 4.643 billion from CHF 4.181 billion in the previous year.
For the full-year, the company has reaffirmed its outlook. It expects flat volume and flat EBIT on a recurring basis in constant currency.
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