Barry Callebaut: volumes and profit surge; shares follow
(CercleFinance.com) - Barry Callebaut announced higher sales volumes on Wednesday, along with an increase in operating profit in fiscal year 2017/18 to 31 August 2018.
The world's biggest chocolate and cocoa-product maker increased its sales volume by 6.3% to 2,035,857 tonnes over the past year, outperforming the global chocolate confectionery market (+1.8%).
Sales revenue rose just 0.1% in local currencies (+2.1% in Swiss francs), to 6,9 billion Swiss francs, impacted by lower raw material prices.
Its operating profit (EBIT) increased by 21.2% in local currencies (+25.3% in Swiss francs) to 554 million Swiss francs, while net profit for the year grew by +31% in local currencies (+35.9% in Swiss francs) to 357.4 million Swiss francs, the group said.
Looking ahead, Barry mentioned "good visibility" on volume growth and "healthy global demand".
Its shares are currently up 1.8% at 2,018 Swiss francs, outperforming a 0.7% rise in the STOXX Europe 600 Food & Beverage index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The world's biggest chocolate and cocoa-product maker increased its sales volume by 6.3% to 2,035,857 tonnes over the past year, outperforming the global chocolate confectionery market (+1.8%).
Sales revenue rose just 0.1% in local currencies (+2.1% in Swiss francs), to 6,9 billion Swiss francs, impacted by lower raw material prices.
Its operating profit (EBIT) increased by 21.2% in local currencies (+25.3% in Swiss francs) to 554 million Swiss francs, while net profit for the year grew by +31% in local currencies (+35.9% in Swiss francs) to 357.4 million Swiss francs, the group said.
Looking ahead, Barry mentioned "good visibility" on volume growth and "healthy global demand".
Its shares are currently up 1.8% at 2,018 Swiss francs, outperforming a 0.7% rise in the STOXX Europe 600 Food & Beverage index.
Copyright (c) 2018 CercleFinance.com. All rights reserved.