November 7, 2018 / 6:19 AM / 11 days ago

Barry Callebaut FY net profit jumps on strong growth, keeps outlook

ZURICH, Nov 7 (Reuters) - Swiss chocolate and cocoa product maker Barry Callebaut expects to keep growing sales volumes by 4-6 percent in the new fiscal year after strong growth and low cocoa bean prices boosted profits in the twelve months to Aug. 31.

“The continued execution of our ‘smart growth’ strategy, good visibility on volume growth and healthy global demand give us confidence that we are well on track to achieve our mid-term guidance,” Chief Executive Antoine de Saint-Affrique said in a statement on Wednesday.

Net profit rose 31 percent in local currencies to 357.4 million Swiss francs ($357.22 million), helped by factors including lower net finance costs, while sales volumes increased by 6.3 percent to over two million tonnes, Barry Callebaut said.

Analysts in a Reuters poll had expected net profit to rise to 358 million francs and sales volumes to increase by 5.9 percent in the full year. ($1 = 1.0005 Swiss francs) (Reporting by Silke Koltrowitz)

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