Swiss chocolate maker Barry Callebaut has reaffirmed its mid-term guidance, depsite booking a drop in full-year profit.
In the 12 months to the end of August, the company reported a net profit of CHF142.6m (US$151.7m), down from CHF178.6m last year. Callebaut blamed the drop on higher financing costs and a less favourable tax mix.
Operating profit in the 12 month period edged up 1% to CHF353.2m, the group reported today (7 November).
Sales were up 11.5% to CHF4.82bn. The company said it made investments in structures, factory expansions and its gourmet business in the period.
"Despite the current, rather difficult economic environment, especially in Western Europe, we remain positive on delivering on our strategy and reaching our targets. Therefore, we have renewed our mid-term guidance of on average 6-8% growth in volume and EBIT until 2014/15," Callebaut said.
