Yizi International expects growth to slow down this year, with stock prices falling after hours.
Yizi International predicts that growth will slow down this year, and the company is dealing with fluctuations in cocoa prices. The owner of Oreo and Cadbury said on Tuesday that the sudden drop in cocoa prices in recent weeks could create some short-term pressure, depending on competitors' reactions and where these prices ultimately stabilize. CEO Dirk Van de Put said in a conference call with analysts, "This may bring some unexpected competitive responses for us." "Therefore, we hope to leave some flexibility in our performance expectations, as we are not sure how the market will evolve." The company's stock fell 4.8% to $56.63 in after-hours trading. As of Tuesday's close, the stock has risen 3.6% in the past year.
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