Brief: Lindt Confirms Mid- To Long-Term Growth Targets, Keeps Dividend

Chocoladefabriken Lindt & Spruengli AG

31/03/2020 06:17

March 31 (Reuters) - Lindt & Spruengli  LISN.S :
    * LINDT & SPRÜNGLI HAS STARTED CURRENT YEAR VERY STRONGLY,
GAINING
MARKET SHARE IN ALL STRATEGICALLY IMPORTANT MARKETS
    * SINCE BEGINNING OF MARCH, GLOBAL HEALTH AND ECONOMIC
CRISIS
RESULTING FROM COVID-19 PANDEMIC, TOGETHER WITH SEVERE
RESTRICTIONS IMPOSED TO LIMIT SPREAD OF VIRUS IN MANY MAJOR
MARKETS, ARE IMPACTING LINDT & SPRÜNGLI'S BUSINESS
    * MID- TO LONG-TERM GROWTH TARGETS MAINTAINED AND DIVIDEND
CONFIRMED
    * IMPACTS AFFECT MAINLY TRAVEL RETAIL, OWN STORE NETWORK,
FOOD
SERVICE AS WELL AS GROCERY TRADE IN CERTAIN MARKETS.
    * E-COMMERCE BUSINESS, HOME DELIVERY AND PICK-UP SERVICES AT
SOME
STORES ARE YET GAINING IMPORTANCE
    * FOR COMING YEARS, LINDT & SPRÜNGLI MAINTAINS ITS EXISTING
MID-
TO LONG-TERM ORGANIC SALES GROWTH TARGET OF 5-7% P.A., COMBINED
WITH A STEADY IMPROVEMENT IN OPERATING MARGIN OF 20-40 BASIS
POINTS P.A
    * WHILE EXTENT AND DURATION OF SITUATION ARE STILL
UNCERTAIN,
GROUP'S GROWTH AND FINANCIAL OUTLOOK 2020 IS NO LONGER VALID
    * LINDT & SPRÜNGLI CONTINUES TO MONITOR DEVELOPMENT OF
OUTBREAK
    * BOARD OF DIRECTORS CONFIRMS PROPOSAL TO ANNUAL
SHAREHOLDERS
MEETING OF A DIVIDEND INCLUDING A SPECIAL ANNIVERSARY DIVIDEND
ON APRIL 24, 2020 OF CHF 1,750 PER REGISTERED SHARE AND CHF 175
PER PARTICIPATION CERTIFICATE.

Source text for Eikon:  ID:nNDL3HzM49 
Further company coverage:  LISN.S 

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