Barry Callebaut Q1 sales beat forecasts due to strong growth in Europe, Asia |
|
|
|
Published
:
Thu, 18 Jan 2007 08:24
|
ZURICH (AFX) - Barry Callebaut AG, the Zurich-based chocolate maker, reported a 3.6 pct increase in sales during the first quarter of its 2007/8 business year to 1.242 bln sfr, from 1.199 bln, beating the analyst consensus of 1.235 bln.The company also confirmed its three-year guidance valid until the 2007/8 financial year, saying it still expects an annual organic growth of 3-5 pct, EBIT growth of 8-10 pct and net profit growth of 12-15 pct.'We were able to carry the strong fourth quarter growth of the past fiscal year into the first quarter of the current fiscal year; seasonal Christmas business was again very good,' chief executive Patrick de Maeseneire commented.Regarding its main regions, Callebaut said sales in Europe grew by 5.8 pct to 886.3 mln sfr, helped by positive foreign exchange effects.In the Americas, sales declined by 4 pct to 278.1 mln sfr, while Asia and the rest of the world saw a sales growth of 9.3 pct to 77.3 mln sfr.Barry Callebaut also announced that it plans to repay the outstanding 9.25 pct high-yield bond due 2010 in the amount of 165 mln eur at the earliest call date of March 15, 2007.afx.zurich@afxnews.comat/lamCOPYRIGHTCopyright AFX News Limited 2006. 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
Swiss shares close off lows in thin trade ahead of key earnings news - UPDATE 