Cocoa and chocolate company Barry Callebaut has reported that sales grew by 2.8% to 1,414,654 tonnes in the first nine months of the fiscal year ending 31 May 2017.
The company notes that it achieved this growth in a global confectionery market that declined by 0.6% over the last nine months, but recently bounced back with a growth of 2.3% during the last three month period.
Sales revenue increased by 2.9% in local currencies to CHF 5.19 billion, in line with volume growth and a better product mix, offset by lower cocoa bean prices.
Barry Callebaut's volume growth was driven by gourmet and speciality products (+11.6%), outsourcing (+9.7%), and emerging markets (3.3%).
Expansion Plans
During this nine month period, Barry Callebaut opened new chocolate academies in Milan and Mexico City, and invested in four existing facilities in Asia. It also launched a number of new products and ranges.
“Thanks to our healthy chocolate portfolio, we maintained good volume growth momentum and managed to outperform the market once again," said Antoine de Saint-Affrique, CEO of Barry Callebaut Group.
"The phase-out of less profitable cocoa contracts is now completed; we continue to see a healthy portfolio and expect the good momentum to remain."
The group, which operates over 50 production facilities worldwide, posted annual sales of €6.1 billion last year. It has a goal to make sustainable chocolate the norm by 2025.
© 2016 European Supermarket Magazine - Article by Sarah Harford.
