Barry Callebaut AG said its normalized net income for the fiscal first half ended Feb. 29 came to CHF14.84 per share, compared with the S&P Capital IQ consensus estimate of CHF19.55 per share.

EPS declined 18.4% year over year from CHF18.18.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF81.8 million, a decline of 18.3% from CHF100.2 million in the prior-year period.

Total revenue rose 5.6% on an annual basis to CHF3.42 billion from CHF3.24 billion, and total operating expenses increased 6.6% year over year to CHF3.22 billion from CHF3.02 billion.

Reported net income fell 19.3% from the prior-year period to CHF106.8 million, or CHF19.37 per share, from CHF132.3 million, or CHF24.00 per share.