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Chocolate major Callebaut’s sales up; local U.S. line is set

TEL AVIV (MarketWatch) — Barry Callebaut AG, the Zurich cocoa- and chocolate-producing major, reported fiscal nine-month revenue rose 19% and said that because the dollar and British pound had weakened against the euro and Swiss franc, it would introduce locally produced gourmet chocolate in the U.S. and Asia. For the nine months ended May 31, revenue reached 3.61 billion Swiss francs ($3.55 billion) from 3.04 billion in the year-earlier period. Sales volume rose 10% to almost 873,000 metric tons from 794,000. With the help of cost cuts companywide, Chief Executive Patrick De Maeseneire said in a statement, Barry Callebaut is “confident we will reach our … financial targets” for fiscal 2008 through fiscal 2011. The targets average to annual growth of 13% to 16% in net income and 9% to 11% in revenue. The new locally produced chocolate lines stem from the fact that “unfavorable exchange-rate developments have started […]

Original post by Forextvblog

This entry was posted on Monday, June 30th, 2008 at 10:47 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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