Lindt & Spruengli Increases Profit Despite Market Slowdown
By Nina Kienle
Chocoladefabriken Lindt & Spruengli reported an increase in profit in 2023 on continued sales growth despite a slowdown in the global chocolate market, and hiked its dividend.
The Swiss chocolatier said on Tuesday that it increased its full-year net profit by 18% to 671.4 million Swiss francs ($758.6 million) compared with the prior year, which it attributed to price increases as a result of higher raw-material prices and inflationary pressure.
Earnings before interest and taxes increased 9.2% to CHF813.1 million, with a margin that expanded to 15.6% from 15.0%.
The company confirmed its preliminary sales figures published in January, which showed sales grew 10% organically, as well as its 2024 guidance.
The group intends to raise its dividend payout to CHF1,400 a registered share--which carry voting rights--from CHF1,300 the prior year, and to CHF140 a nonvoting participation certificate from CHF130, it said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
March 05, 2024 02:52 ET (07:52 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits