Barry Callebaut (BYCBF.PK), a cocoa processor and chocolate maker, on Wednesday reported first-quarter sales revenue of CHF3.449 billion, higher than CHF2.241 billion, registered for the same period last year.
"The increase was driven by Barry Callebaut's cost-plus pricing model as the business passed through the significantly higher cocoa bean price to customers," the company said in a statement.
Sales volumes slipped to 565,238 tons from the prior year's 580,876 tons, due to the highly challenging and volatile market environment that has impacted short-term customer and consumer demand.
Looking ahead, for the full year, the Group now expects a low single-digit decrease in sales volume. In addition, Barry Callebaut has reiterated its annual outlook for double-digit EBIT growth on a recurring basis at constant currency.
For comments and feedback: editorial@rttnews.com