Swiss chocolate maker Lindt & Spruengli raises full year sales outlook (updated)

Chocoladefabriken Lindt & Spruengli AG

25/07/2023 06:31

(Adds details)
       ZURICH, July 25 (Reuters) - Lindt & Spruengli  LISN.S 
upped its full year sales outlook to 7-9% on Tuesday after price
increases helped Swiss chocolate post organic growth above its
6-8% target range for the first six months of 2023.
    The maker of golden chocolate bunnies said its organic
sales, which cuts out the impact of acquisitions and currency
swings, increased 10.1% to 2.09 billion Swiss francs  ($2.40
billion).
    Zuercher Kantonalbank had forecast revenue of 2.08 billion
Swiss francs.
        Net profit increased to 204.5 million Swiss francs from
138.4 million francs a year earlier, said the company based in
Kilchberg, near Zurich.
  
        Lindt was able to overcome a more difficult consumer
environment with price increases during the period. Pricing was
the main driver for the increase, Lindt said, making up 9.3% of
the extra sales. 
  
        Volumes of chocolate bars and other products such as
Lindor chocolate balls in contrast only increased by 0.8%.
  
        "Due to inflationary effects and the resulting subdued
consumer sentiment, volumes stagnated or declined slightly
depending on the product group and market," said Lindt in a
statement.
  

($1 = 0.8693 Swiss francs)

 (Reporting by Noele Illien, editing by John Revill)
 ((Noele.Illien@thomsonreuters.com; +41 41 528 39 73;))