Lindt expects slower growth, on sluggish US demand
The chocolate maker’s first half was slightly disappointing, as it adjusts US acquisition Russell Stover’s portfolio
Zurich — Swiss chocolate maker Lindt & Spruengli forecast revenue growth would slow this year and reported first-half net profit rose slightly less than the market had expected, hit by sluggish chocolate demand in the US. "Due to current developments in North America, it is anticipated that revenue growth for the full year will be slightly lower than in the previous year, combined with an increase of the operating profit margin. However, the group is still confident that its growth will considerably exceed the industry average," it said on Tuesday. It had previously expected sales growth in 2017 to be broadly in line with the 6% progression seen in 2016. Net profit at the maker of Lindor chocolate balls and gold foil-wrapped Easter bunnies rose 5.7% to Sf76.3m ($80.6m) on sales up 3.1% to Sf1.549bn, corresponding to organic growth of 3.6%. Analysts polled by Reuters had on average expected net profit to rise to Sf77.3m on sales up 6% at Sf1.59bn. First-half sales lagged the group’s ...
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