Lindt & Spruengli raises guidance after jump in profits
In a media release announcing its half-year results 2022, the Swiss premium chocolatier said it had previous guided for 6-8% growth this year, a target it reaffirmed for the medium to long term.
Lindt has also raised its sales guidance and unveiled a 1 billion Swiss franc ($1.04 billion) share buyback programme after the business’s improved results, despite operating in what it described in the release as a ‘challenging economic environment’ of supply chain bottlenecks for raw ingredients and packaging.
The group's organic sales grew 12.3% - or 10.7% in Swiss francs - in the half to 1.99 billion francs, helped by market share gains in all regions, the luxury chocolate maker said in a statement.
Lindt claimed it had managed to outperform the market because customers are willing to pay more for its upmarket products and recent innovations like its oatmilk offering.
The buyback programme for registered shares and participation certificates will start on 2 August 2 until the end of July 2024 at the latest. Lindt said it intends to cancel the shares it repurchases.