Barry Callebaut, the world's biggest maker of chocolate and cocoa products, confirmed its mid-term targets on Wednesday, even as it posted first-quarter sales volume growth that fell short of expectations.
The Swiss-based company that makes chocolate for the likes of Nestle and Mondelez posted sales volume growth of 19.5 percent in the first quarter, compared to the 21.1 percent forecast by analysts in a Reuters poll.
Excluding Petra Foods' cocoa business, which Barry bought in Dec. 2012 for $860 million, sales volumes rose 4.6 percent in the quarter, at a slower rate than the 8.3 percent registered a year ago.
Barry Callebaut, which provides the food manufacturing industry with cocoa and chocolate products, coatings and cocoa powders, confirmed its midterm target for volume growth of 6-8 percent.
