SWITZERLAND: Lindt & Spruengli posts 11% rise in 2002 net profit
Swiss luxury chocolate maker Lindt & Spruengli has posted 2002 net profit of 102m Swiss francs (US$75.2m), an increase of 11% compared to the previous year.
The company posted 2002 earnings before interest and tax (EBIT) of 170.8m francs, a year-on-year increase of 7.8%. Analysts polled by Reuters had on average forecast net profit of 102.4m francs and EBIT of 170.7m francs.
"These results are all the more encouraging because they were achieved under extremely tough conditions, characterised by negative consumer sentiment, ongoing trade concentration and unrestrained competitive pricing," the company was quoted by Reuters as saying.
The chocolate industry has been hit by rising cocoa prices due to political unrest in the Ivory Coast, which produces around 40% of the world’s cocoa.
Lindt & Spruengli said sales rose 5.6% to 1.68bn francs, while in local currencies sales rose 7.6%.
- It won't just be Unilever to push for Brexit hikes
- Price an underlying tension across European FMCG
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on Brexit's policy impact
- Interview: UK trade body on the impact of Brexit
- PepsiCo sets 2025 nutrition, sustainability goals
- Nestle lowers outlook on "softer environment"
- China "transition" drags on Danone Q3
- UK announces "action plan" to drive food exports
- CP Foods invests in UK foodservice firm Foodfellas
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016