Lindt & Spruengli has booked a 14% rise in first-half net profit in the face of weak consumer sentiment in the chocolate-maker’s largest markets, the US and Europe.
The Swiss chocolatier said today (21 August) net profit rose to CHF36.6m (US$37.8m) during the six months to 30 June. EBIT climbed 16% to CHF48.7m, the group added.
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Lindt said it was able to grow its market share in all of its main markets, although value and volume sales in the US and Europe remained flat as consumers cutback their spending in the face of “economic uncertainty”. Sales were up 2.6% to CHF1.03bn. Excluding currency exchange, sales rose 5.3%, the group added.
While Lindt said the economic outlook is likely to become “more challenging” in the back half of the year, the firm reiterated its medium to long-term targets of sales growth of 6-8% and profit growth of 20-40 basis points.
Click here for a round-up of what analysts made of Lindt’s numbers. Click here for analysis of its results and a look at what could be its priorities in the months ahead.
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