Swiss chocolatier Barry Callebaut has posted net sales of $6.80 billion for its fiscal full year 2016/17 results – an increase of 1.9% from the same period last year.
While global chocolate confectionery sales are down as consumers prefer healthier snacks, the chocolate firm saw its sales volumes increase by 4.4% which is said to have been driven by a good performance at its gourmet business and outsourcing contracts.
The report also saw operating profit rise to 21.5% to $488 million, from $401 million last year.
CEO Antoine de Saint-Affrique said: “We will continue to deliver on our ‘smart growth’ strategy. A more supportive cocoa products market and slightly improving global demand for chocolate, together with the consistent execution of our strategy, give us confidence to extend our mid-term guidance to fiscal year 2018/19:
“We are targeting 4-6% volume growth, and EBIT above volume growth in local currencies on average for the four year period from 2015/16 to 2018/19, barring any major unforeseen events.”
Also in the report the company hailed its its fourth type of chocolate Ruby made from Ruby cocoa beans, which FoodBev previously reported about in September.
The company has also announced that chief finance officer Victor Balli would be retiring by the end of February and will be replaced by Remco Steenbergen.
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