Barry Callebaut H1 net profit rises as sales outpace chocolate market UPDATE |
|
|
|
Published
:
Tue, 03 Apr 2007 07:14
|
(updating with further details on EBIT, outlook, regional performance)ZURICH (AFX) - Barry Callebaut AG said it achieved a first half net profit rise of 11.1 pct to 125.2 mln sfr, driven by improved sales which is grew twice as fast as the global chocolate market.Looking ahead, the chocolate producer said it expects good volume growth for the second half of the fiscal year and said the group was well the on way of achieving its targets through to 2008, including annual top-line growth of 3-5 pct and EBIT growth of 8-10 pct.EBIT for the period rose 7.3 pct to 190.0 mln sfr. Sales were up 4.1 pct at 2.3 bln sfr, with total sales volumes up 6.3 pct at 588,125 tonnes growing twice as fast as the global chocolate market.Barry Callebaut exceeded analysts average net profit forecast of 124.1 mln sfr, as well as the EBIT forecast of 189.5 mln sfr, while falling slightly short of sales forecasts of 2.37 bln sfr.The chocolate manufacturer said that EBIT improvement was achieved, as a strong operational performance at the Food Manufacturer, Gourmet & Specialities and Consumer Products Europe units offset a 10 mln sfr negative impact from the deteriorated combined cocoa ratio and a weakness in the Consumer Products North America division, which is currently under strategic review.Barry Callebaut boasted the fastest sales growth in Asia, with revenues increasing 21.4 pct to 166.6 mln sfr.Sales in Europe were up 5.7 pct at 1.6 bln sfr, while sales in the US dropped 4.5 pct to 532 mln sfr.afx.zurich@afxnews.comjmt/jfr/jmt/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Nestle, Barry Callebaut enter long-term supply contract; no financial details 