UPDATE 3-Callebaut trims growth goals on lower consumption

* 2008/09 net profit rises 10 pct to 227 mln Sfr

* Average forecast for net was 222 mln Sfr

* Lowers three-year financial targets

* CEO says decline in chocolate demand bottomed out

* Shares fall 0.9 pct, slightly underperform sector

(Adds CEO comment, analyst comment, shares, background)

By Katie Reid

ZURICH, Nov 12 (Reuters) - Barry Callebaut (BARN.S), the world's largest chocolate maker, cut mid-term growth goals on Thursday because of lower consumption worldwide and the pressure of high cocoa prices.

The group posted a slightly better-than-expected 10 percent rise in full-year net profit to 227 million Swiss francs ($225.2 million) thanks to outsourcing deals.

Barry Callebaut Chief Executive Juergen Steinemann told Reuters the decline in chocolate demand had bottomed out but the global market was likely to remain flat for the next 12 months.

The group, which makes chocolate for companies such as Nestle (NESN.VX), Cadbury (CBRY.L) and Hershey (HSY.N), is now aiming for annual average volume growth of 6-8 percent and operating profit growth at least in line with this for the three years until the end of August 2012.

"This means our outlook is actually very bullish," Steinemann said after presenting his first set of results since he took over the helm this summer.

Its previous volume growth target for the period 2007/08 to 2010/11 was 9-11 percent and EBIT growth of 11-14 percent.

Barry Callebaut's full-year sales volume rose 4 percent after picking up in the second hal.

Some analysts said Barry Callebaut's guidance cut was no surprise and that it had brought the group more in line with expectations.

"The share price reaction will mainly depend on the degree management can convince investors that their new volume growth target is realistic," Helvea analyst Andreas von Arx said.