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Barry Callebaut profit misses consensus by 21.6% in fiscal H1

Barry Callebaut AG said its normalized net income for the fiscal first half ended Feb. 28 amounted to CHF18.18 per share, compared with the S&P Capital IQ consensus estimate of CHF23.20 per share.

EPS rose 10.8% year over year from CHF16.41.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF100.2 million, a gain of 10.7% from CHF90.5 million in the year-earlier period.

Total revenue grew 11.6% on an annual basis to CHF3.24 billion from CHF2.91 billion, and total operating expenses increased 11.8% on an annual basis to CHF3.02 billion from CHF2.71 billion.

Reported net income grew 10.8% from the prior-year period to CHF132.3 million, or CHF24.00 per share, from CHF119.4 million, or CHF21.65 per share.