The Swiss company, battling a strong Swiss franc into the bargain, said strong demand allowed it to raise its own prices in the half. It reported profit rising by almost a third and maintained its sales growth outlook for the year.
The results make it the latest branded confectioner to demonstrate more resilience in this year’s downturn than during the last economic slump in 2008, when consumers traded down to cheaper chocolate.
U.S.-based industry No. 1 Hershey raised its full-year outlook last month and Nestle, the maker of KitKat chocolate bars, has said sales at its confectionery unit grew 4.2 per cent in the first half.
Even in sluggish mature markets hit by the debt crises, consumers continued to buy Lindt’s popular Lindor chocolate balls and gold foil-wrapped Easter bunnies.
“Particularly good progress was made in the important main European markets of Germany, France, and Italy, as well as by Lindt and Ghirardelli in North America,” Lindt & Spruengli said on Tuesday, adding that it had increased prices in some markets and, unlike rivals, it would not do aggressive promotions.
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Source: The Globe and Mail