Swiss chocolate maker Lindt & Sprungli has today (18 January) reported an increase in full-year sales in 2010 and said it had gained market share in all of its key markets.
The group generated sales of 7.3% on an organic basis in local currencies, “considerably higher than the average for the chocolate market as a whole”, the confectioner said
However, the strength of the Swiss franc dampened that growth. Consolidated sales in Swiss francs climbed 2.2% to CHF2.58bn (US$2.69bn).
Lindt recorded double-digit growth in North America, its “most important sales market” and in the UK. In Italy and Germany, Lindt said it had enjoyed “substantial growth rates”.
In the firm’s Swiss home market, Lindt “further expanded” its market share.
“Thanks to a focused purchasing policy, consistent improvements in efficiency and excellent cost management and in spite of the enormous increase in the price of cocoa beans in the first three quarters of 2010 and the negative impact of currency effects on consolidated profit in Swiss franc terms, Lindt & Sprungli will be in a position to post an operating profit (EBIT) within the range published for 2010 of CHF300 to CHF340m,” it said in the trading update.
Shares in Lindt & Sprungli rose 1.54% to EUR2.05 at 10.21am BST today.
Click here to view the full earnings release.
