Swiss chocolate maker Barry Callebaut confirmed its mid-term financial targets after an improvement in profitability helped net profit rise 8.9 percent in the six months to February.
"The profitability increased significantly thanks to strong margin improvements, a good EBIT (earnings before interest and tax) development of our stand-alone business as well as of the acquired cocoa activities," the group that makes chocolate and cocoa products for big food groups, such as Nestle and Unilever , said in a statement on Thursday.
Net profit, including discontinued operations, rose 8.9 percent to 119.6 million Swiss francs ($134.99 million), just below a 124 million franc forecast in a Reuters poll. nL5N0MS2FS
Sales volumes rose 3.1 percent on a stand-alone basis, or 17.6 percent including the cocoa business acquired from Petra Foods last year, below the group's mid-term target of 6-8 percent volume growth per year that was confirmed on Thursday.
