Barry Callebaut has reported sales volume up 1.7% with sales revenue up 3.7% in local currencies.

“As anticipated in November, we had a steady start to the new fiscal year on top of a very strong prior-year base. We expect sales momentum to pick up in the back half of the fiscal year as additional volumes come on stream from new outsourcing contracts across all regions, as well as from recently launched innovations. Our good product mix and strong portfolio give us confidence that we are on track to deliver on our current mid-term guidance for the period ending with fiscal year 2018/19,” said Antoine de Saint-Affrique, CEO of the Barry Callebaut Group.

Looking ahead, CEO Antoine de Saint-Affrique said: “Our results in the past three years have confirmed the strength of our ‘smart growth’ strategy. Going forward, we remain committed to achieving consistent, above-market volume growth and enhanced profitability. A continuing outsourcing trend, as evidenced by recently signed agreements, the dynamic growth in emerging markets, our attractive Gourmet business as well as our innovation power provide plenty of levers for further growth. All these elements give us the confidence to issue a new mid-term guidance, consistent with our prior mid-term guidance, which is 4-6% volume growth and EBIT above volume growth in local currencies on average for the 3-year period 2019/20 to 2021/22, barring any major unforeseeable events.”