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(Adds CEO, analyst quotes, share price indication.)
By Silke Koltrowitz
ZURICH, Nov 6 (Reuters) - Barry Callebaut, which
makes chocolate and cocoa products for firms like Nestle
and Unilever, stuck to a sales volume growth
target of 4-6% over the next three years, despite a slowdown in
its most recent quarter.
Although global chocolate confectionery consumption is only
growing slowly, Barry Callebaut says its focus on outsourcing
contracts, its business with chefs and artisans and emerging
markets allow it to outperform the market.
"Our business is extremely predictable in the medium term,
but there is quite a bit of variation from quarter to quarter,"
Chief Executive Antoine de Saint-Affrique told reporters on
Wednesday after volume growth slowed in the final quarter of the
group's fiscal year from the previous quarter.
He said the Zurich-based company was confident for the
coming year as it was working on a pipeline of outsourcing
opportunities and could also do bolt-on acquisitions.
Sales volumes grew 5.1% to 2.14 million tonnes in the 12
months to Aug. 31., while net profit rose 6.9% in local
currencies to 368.7 million Swiss francs ($371 million), the
maker of berry-flavoured "ruby" chocolate said in a statement,
proposing an 8% higher dividend of 26 francs per share.
Kepler Cheuvreux analyst Jon Cox said this was "a solid set
of figures with excellent free cash flow and a dividend ahead of
expectations".
Vontobel analyst Jean-Philippe Bertschy said the trend was
likely to continue. He attributed the weaker final quarter to a
flat development in the Americas and in the gourmet and
specialities business with artisans and chefs.
De Saint-Affrique said Barry Callebaut was working to fix
its beverage business, which dragged down gourmet and
specialities, but was confident of returning the unit to mid- to
high-single digit growth.
Barry Callebaut shares, which have risen 36% so far this
year, were down 1.25% at 0801 GMT.
($1 = 0.9927 Swiss francs)
(Reporting by Silke Koltrowitz; Editing by Michael Shields and
Alexander Smith)
