SWITZERLAND: Lindt & Sprüngli FY Growth Slows

Lindt & Sprüngli has reported a slowdown in sales growth for 2016, hurt by weaker global demand.

For the year, sales were up 6.8% to 3.9bn Swiss francs, down from the 7.9% growth in the previous year. On an organic basis, sales were up 6%, compared to a 7.1% increase in the previous fiscal.  Operating profit, meanwhile, was up 8.4% to 562.5m francs.

In Europe, sales were up 7.4% on a constant-currency basis, helped by double-digit growth in Germany and the UK. Meanwhile, sales in North America rose by 3.4%, despite an overall decline in the US market. And growth in all other markets rose by 10.2% on an organic basis, helped in particular by strong growth in Brazil and Japan.

Lindt also opened 60 new retail outlets during the year, taking its total to 370 outlets globally. The group said the overall results were “particularly gratifying given the backdrop of a persistently challenging environment of stagnating and even declining chocolate markets”.