Barry Callebaut Posts 2.8% Growth In Sales
Cocoa and chocolate company Barry Callebaut has reported that sales grew by 2.8% to 1,414,654 tonnes in the first nine months of the fiscal year ending 31 May 2017. The company notes that it achieved...
Cocoa and chocolate company Barry Callebaut has reported that sales grew by 2.8% to 1,414,654 tonnes in the first nine months of the fiscal year ending 31 May 2017.
The company notes that it achieved this growth in a global confectionery market that declined by 0.6% over the last nine months, but recently bounced back with a growth of 2.3% during the last three month period.
Sales revenue increased by 2.9% in local currencies to CHF 5.19 billion, in line with volume growth and a better product mix, offset by lower cocoa bean prices.
Barry Callebaut's volume growth was driven by gourmet and speciality products (+11.6%), outsourcing (+9.7%), and emerging markets (3.3%).
During this nine month period, Barry Callebaut opened new chocolate academies in Milan and Mexico City, and invested in four existing facilities in Asia. It also launched a number of new products and ranges.
“Thanks to our healthy chocolate portfolio, we maintained good volume growth momentum and managed to outperform the market once again," said Antoine de Saint-Affrique, CEO of Barry Callebaut Group.
"The phase-out of less profitable cocoa contracts is now completed; we continue to see a healthy portfolio and expect the good momentum to remain."
The group, which operates over 50 production facilities worldwide, posted annual sales of €6.1 billion last year. It has a goal to make sustainable chocolate the norm by 2025.
© 2016 European Supermarket Magazine - Article by Sarah Harford.