Results season brings a degree of optimism
As with all sectors of industry, financial results seasons appear to come around at an extremely rapid rate.
While some companies favour quarterly updates, it’s six-month and annual reports that observers generally consider to be the strongest barometer of underlying performance.
With the confectionery and bakery industries worth billions to the global economy on an annual basis, it’s little wonder that major firms’ figures attract wider financial market interest.
This week has proved significant for the global Barry Callebaut group as it put out its half year results, which saw an upturn in profit and activity across a number of its international territories.
Though sales revenue dipped by 1.8%, the company’s gross profits were up 15.5%, which was greeted by its chief executive officer as an encouraging sign.
With the launch of its much-heralded ruby chocolate hitting European shores this Spring, including a UK launch by Nestle for its KitKat brand, Barry Callebaut appears to be enjoying consistent fortunes as we move further into the year.
Another company to report positive results was ingredients and flavouring company Chr.Hansen, which recorded 9% six-month organic growth to the business.
This perhaps points to a wider trend of companies operating within the confectionery sector proving resilient amid uncertainty in some global financial markets.
As for our own activities, it has certainly been another busy month. I’ve been invited for a site visit to Bühler in Switzerland, which will appear in our next edition, as well as getting ready for this year’s Ipack-Ima in Italy, for which Confectionery Production is the only media partner within our segment of the food industry. The event should prove a memorable one, and a valuable indicatoar of key technology developments within the sector.