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March 18, 2008

SWITZ: Lindt unveils US$760m warchest as profits jump

Lindt & Sprüngli, the Swiss chocolate maker, is to invest over CHF750m (US$760.1m) in the business over the next three years to shield itself against the weak dollar.

Lindt & Sprüngli, the Swiss chocolate maker, is to invest over CHF750m (US$760.1m) in the business over the next three years to shield itself against the weak dollar.


The company, which today (18 March) announced an 18% jump in annual profits, said some of the cash would go towards boosting production in North America.


“The planned investments in production aim at a greater independence regarding dollar rate developments in North America,” Lindt said.


The group posted operating profit of CHF350.8m for 2007, up 18% on the year. The rise in profits came as sales climbed 13.9% to CHF2.9bn.


Lindt said it had “outpaced” a growing chocolate market, with an “especially pleasing” performance in North America.

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