Reported 19 days ago
Barry Callebaut, the Swiss chocolate manufacturer, has reported annual profit growth despite ongoing high cocoa prices, but expects another year of flat sales volumes. The company's struggles with rising cocoa prices, which have nearly doubled in the past year, have led to increased borrowing and a significant rise in net debt. While revenues increased by 22.6%, net profit saw a substantial decline due to one-off costs. The firm is implementing a savings plan aimed at reducing costs, having already closed several plants to navigate the challenging market.
Source: YAHOO