Bitter-sweet results for Barry Callebaut
The world's largest producer of quality chocolate, Barry Callebaut, has reported a drop in net income for the year to August 31, despite higher operating income.
The Zurich-based company said in a statement that its net income for the year was SFr90 million ($50.9 million) compared with SFr100 million for the previous year.
Operating income rose 14 per cent to SFr149 million while sales were up seven per cent to SFr2.4 billion.
The net income figure was in line with analysts' expectations and Barry Callebaut said it would keep its dividend unchanged at SFr6.50 per share.
The company had special tax benefits last year which account for some of its net income decline.
Barry Callebaut was created in 1996 through the merger of the French company, Barry, and Belgian group, Callebaut.
Klaus J. Jacobs Holding has a 66.7 per cent stake.
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