ZURICH: Swiss chocolate maker Barry Callebaut overshot expectations for its first-quarter sales on Wednesday, with revenue rising more than three times as fast as forecast in a Reuters poll.
Sales revenues were at 1.81 billion Swiss francs ($1.81 billion), Barry Callebaut said in a statement, up 3.8 percent from the prior-year period and ahead of analyst expectations for a 1.1 percent rise in a Reuters poll. Sales volumes grew 6.4 percent to 494,873 tonnes.
"While the cocoa products market remains challenging this fiscal year in terms of profitability, our business model is proving robust with a broad-based and strongly performing chocolate and compound business," new Chief Executive Antoine de Saint-Affrique said.
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