Salem Radio Network News Tuesday, March 28, 2023


Lindt & Spruengli proposes dividend hike as 2022 sales, profit climb

ZURICH (Reuters) – Lindt & Spruengli said its 2022 profit rose and the Swiss chocolate maker also proposed a higher dividend payout on Tuesday, despite a challenging year that saw inflationary price hikes dampen consumer sentiment in key markets.

Net income rose to 569.7 million Swiss francs ($612.78 million), beating the 566 million francs forecast by analysts at Zuercher Kantonalbank.

The manufacturer of Lindor balls and gold foil-wrapped Easter bunnies said it achieved an operating margin of 15% last year, in line with its forecast.

It proposed a dividend of 1,300 francs per registered share, up from the 1,200 francs last year.

Lindt already released 2022 organic sales growth of 8.4% in January and maintained its sales growth target of 6-8% despite saying it expects a challenging 2023 due to the inflationary environment.

Monique Bourquin has been nominated for the board of directors, the chocolate manufacturer said, adding that Antonio Bulgheroni has taken the decision to no longer stand as a candidate at the upcoming annual general meeting.

($1 = 0.9297 Swiss francs)

(Reporting by Noele Illien; Editing by Christopher Cushing and Sherry Jacob-Phillips)


Editorial Cartoons

View More »

Steve Breen
Sun, Mar 26, 2023