Lindt & Spruengli Sales, Profit Rise; Confirms Outlook

By Nina Kienle

Chocoladefabriken Lindt & Spruengli increased sales and profit in the first half and confirmed its full-year outlook.

The Swiss chocolatier on Tuesday said net income for the period ended June rose to 218.0 million Swiss francs ($245 million) from CHF204.5 million in the first six month of the prior year.

Earnings before interest and taxes--the company's operating profit--increased to CHF292.3 million from CHF255 million with a margin increase to 13.5% from 12.2%.

Organic sales rose 7% to CHF2.16 billion, supported by mid-single-digit price increases in the first half to offset higher cocoa prices, the company said.

All three regional segments continued to grow, with a growing market share in all key markets, the company said.

A new share buyback of up to CHF500 million will start on Aug. 2 and last until July 31, 2026, as decided on Monday, it said.

The company confirmed its full-year targets, expecting organic sales growth of 6% to 8% and an EBIT margin increase at the upper end of its 20 to 40 basis points range.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

July 23, 2024 03:38 ET (07:38 GMT)

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