Blog: Will Lindt figures be sweet enough?
Dean Best | 15 March 2010
Think of Switzerland and the mind turns to three Cs - clocks, cheese and chocolate.
just-food will tomorrow travel to the headquarters of one of the country's leading chocolate makers, Lindt & Sprungli, as the company publishes its 2009 financial results.
In January, upmarket chocolatier Lindt, which has found the downturn particularly challenging, said its 2009 sales had dipped and warned that profits would come in at the low end of its forecast - a forecast
that already set 2009 profits as lower than those booked in 2008.
Tomorrow, Lindt will publish its profit figures for 2009 but of more interest will be the company's guidance for 2010.
Kepler Capital Markets analyst Jon Cox says Lindt has indicated that it can return to 2008 operating profit levels in 2010 but he wonders whether the business will meet that target.
"We suspect that high raw material prices will weigh and the company won't be able to increase prices to protect its margin," Cox warns.
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