Barry Callebaut: shares climb; results and outlook reassure
(CercleFinance.com) - Barry Callebaut shares rose on Thursday, after the Swiss chocolate maker saw an acceleration of volume growth in the second quarter, which delivered a strong rise in earnings.
The maker of quality chocolate and cocoa products said sales volume growth accelerated to 3.1% in the second quarter, leading to a 2.4% increase in sales volume in the first six months of fiscal year 2018/2019.
Operating profit (EBIT) improved by 12.4% in local currencies to 301.4 million Swiss francs in the second quarter, largely outpacing volume growth, mainly due to better cost management.
Looking ahead, Barry Callebaut said that it had "good visibility" in its portfolio and that it expected a "further acceleration" in sales momentum.
The Zurich-listed shares are currently up 3.1% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The maker of quality chocolate and cocoa products said sales volume growth accelerated to 3.1% in the second quarter, leading to a 2.4% increase in sales volume in the first six months of fiscal year 2018/2019.
Operating profit (EBIT) improved by 12.4% in local currencies to 301.4 million Swiss francs in the second quarter, largely outpacing volume growth, mainly due to better cost management.
Looking ahead, Barry Callebaut said that it had "good visibility" in its portfolio and that it expected a "further acceleration" in sales momentum.
The Zurich-listed shares are currently up 3.1% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.