Nine-month sales rise at Barry Callebaut

by Staff
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ZURICH, SWITZERLAND — Barry Callebaut, a manufacturer of cocoa and chocolate products, said nine month sales for the period ended May 31 rose 4% to 3,285 million Swiss francs ($2,674 million).

"I am very pleased that Barry Callebaut continued on its growth path and was again able to substantially outpace the growth of the global chocolate market in the first nine months of the current fiscal year," said Patrick De Maeseneire, chief executive officer. "During this period, we won three major supply contracts with prestigious international consumer goods companies Nestle, Hershey and Cadbury. Thanks to our global presence from the bean to the shelf and our innovative strength, we have been able to establish ourselves as the outsourcing partner of choice in the chocolate industry."

In Region Americas, sales revenue decreased 5% to 760.3 million Swiss francs ($618.8 million). This was attributed to a small sales volume growth as strong growth at the food manufacturers and gourmet and specialties business units were offset by an unsatisfactory sales performance with the consumer products North America business.

Looking ahead, Mr. De Maeseneire said higher raw material prices will have a negative impact on the year’s financial results, and the deterioration of the combined ratio is expected to have a negative effect of about 25 million Swiss francs. Higher milk prices also will be a factor, but was anticipated to be offset by price increases. However, the company still anticipates reaching three-year financial targets through 2007-08.

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