UPDATE 3-Callebaut trims growth goals on lower consumption

Thu Nov 12, 2009 11:35am GMT
 
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* 2008/09 net profit rises 10 pct to 227 mln Sfr

* Average forecast for net was 222 mln Sfr

* Lowers three-year financial targets

* CEO says decline in chocolate demand bottomed out

* Shares fall 0.9 pct, slightly underperform sector

(Adds CEO comment, analyst comment, shares, background)

By Katie Reid

ZURICH, Nov 12 (Reuters) - Barry Callebaut (BARN.S), the world's largest chocolate maker, cut mid-term growth goals on Thursday because of lower consumption worldwide and the pressure of high cocoa prices.

The group posted a slightly better-than-expected 10 percent rise in full-year net profit to 227 million Swiss francs ($225.2 million) thanks to outsourcing deals.  Continued...

 

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