Europe Movers: Barry Callebaut, Tesco

Inga Muller
10 Apr, 2025
Frankfurt

Barry Callebaut AG dropped 1.9% to CHF 1.055 after the Swiss cocoa processor and chocolate maker announced results for the six-month period ending in February.

Revenue edged up to CHF 1.14 billion from CHF 1.131 billion, net profit slumped to CHF 77.93 million from CHF 235.49 million, and diluted earnings per share fell to CHF 14.20 from CHF 42.87 a year ago.

Sales volume amounted to 1,138,524 tons in the first six months of fiscal 2023-2024, an increase of 0.7%, as growth was 1% in the second quarter amid a challenging operating environment and higher cocoa prices.

“Demand for cocoa powder remained robust, largely driven by Asia with particular strength in India, Indonesia, and China,” the company said in a release to investors.

Cocoa butter demand was impacted in Asia, Latin America, and North America, while other regions saw positive growth.

“For cocoa liquor, positive growth for Eastern Europe, Middle East Africa, and Latin America was offset by lower demand in Asia, Western Europe, and North America,” the company added in the statement.

Volume growth was positive in most global chocolate regions, led by growth in Latin America, particularly in Brazil.

Tesco Plc dropped 0.2% to 334.40 pence after the UK-based food retailer reported preliminary results for 2024 ending in February.

Revenue edged up to £69.92 billion from £68.19 billion, profit jumped to £1.63 billion from £1.19 billion, and diluted earnings per share rose to 23.51 pence from 16.56 pence a year ago.

Same-store sales declined by 1.8%, reflecting a continuing decline in the tobacco market and weakness in parts of the fast-food market serviced by Best Food Logistics, while the core retail and catering businesses grew despite a challenging market backdrop.

The company paid a dividend of 13.70 pence per share, compared to 12.10 pence per share in the previous year.

Tesco proposed a final dividend of 9.45 pence per share, payable on June 27 to shareholders on record as of May 16.