Swiss chocolate maker Barry Callebaut AG said profit will decline this year, cutting its outlook after a sharp drop in cocoa prices. The Zurich-based company, which had previously forecast an increase in earnings, has long struggled with how to deal with volatile cocoa prices. After recent declines, it said in a statement Thursday that it’s taking “short-term action to protect market share and pri...
Swiss chocolate maker Barry Callebaut AG said profit will decline this year, cutting its outlook after a sharp drop in cocoa prices. The Zurich-based company, which had previously forecast an increase in earnings, has long struggled with how to deal with volatile cocoa prices. After recent declines, it said in a statement Thursday that it’s taking “short-term action to protect market share and prioritize growth.” Newly appointed Chief Executive Officer Hein Schumacher cited the “unique speed of the market decrease combined with a competitive overcapacity market, volume declines and supply disruption” for the new guidance. The company also warned that this new outlook is “subject to potential impacts from disruption in the Middle East.” The Zurich-based company expects earnings before interest and tax to fall by a “mid-teens” percentage in the current fiscal year. Cocoa prices fell more than half in the six months through February, which the company said should be “supportive for future market recovery.” It slightly raised its outlook for volumes and now sees a 1-3% decline, with a return to growth in the second half of its financial year. Group sales volume fell 6.9% in the first half, better than analysts’ expectation of a 7.7% drop, according to Bloomberg compiled estimates. That was ahead of the market, the company said, and driven by a return to growth in Latin America and AMEA. “The new volume guidance update is encouraging and the forecast of a return to positive growth for 2H26 comes earlier than expected,” Vontobel analyst Matteo Lindauer said in a note.
A number of stocks fell in the afternoon session after news of a potential Middle East ceasefire triggered a major shift in the stock market. For weeks, investors held defensive and energy stocks during the conflict between the U.S. and Iran.
A number of stocks fell in the afternoon session after news of a potential Middle East ceasefire triggered a major shift in the stock market. For weeks, investors held defensive and energy stocks during the conflict between the U.S. and Iran.
UK’s biggest supermarket voices caution for year ahead despite annual profits rising 8.5% to £2.4bn Business live – latest updates Tesco has warned that profits could fall back in the year ahead amid “increased uncertainty caused by the conflict in the Middle East”. The warning came after the UK’s biggest supermarket hit its highest share of the market in a decade. Continue reading...
UK’s biggest supermarket voices caution for year ahead despite annual profits rising 8.5% to £2.4bn Business live – latest updates Tesco has warned that profits could fall back in the year ahead amid “increased uncertainty caused by the conflict in the Middle East”. The warning came after the UK’s biggest supermarket hit its highest share of the market in a decade. Continue reading...
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