Higher profits for Lindt in 2016, beating the overall chocolate market
Zurich — On Tuesday, Swiss chocolate maker Lindt, producer of the Easter Gold Bunny, reported higher profits in 2016, despite a difficult year for the industry amid political and economic uncertainty. Although the group, officially known as Lindt & Spruengli, is at the top end of the market, which would give it some margin for manoeuvre on prices, the race to cut costs within the industry still took its toll. Net profits climbed 10.2% to Sf419.8m (R5.374bn). The result was marginally less than predicted by analysts interviewed by Swiss agency AWP, and the company’s shares dipped 0.5% on the Zurich stock market in early trading. "Lindt & Spruengli once again grew at a faster pace than the overall chocolate market in 2016," the group said. The result "is particularly gratifying given the backdrop of a persistently challenging environment of stagnating and even declining chocolate markets, generally subdued consumer sentiment caused by political and economic uncertainty, high raw-mater...
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