Lindt profits as chocolate fans swallow price hikes
STORY: It seems a cost-of-living crunch is not enough to stop people buying chocolate.
Lindt & Spruengli said Tuesday (March 7) that profits rose last year.
Net income hit almost $613 million, beating analyst forecasts.
The firm also lifted its dividend and achieved a profit margin of 15%, in line with its own predictions.
All that despite price hikes driven by inflation, which dampened consumer demand in some key markets.
Now the maker of chocolate balls and Easter bunnies says it expects a challenging year ahead as inflation stays high.
But it’s maintaining its target for growth of up to 8% this year.
Shares in the Swiss firm were up around 1% in early European trade.