Lindt 2014 Profit Tops Estimates
Lindt & Spruengli AG, the world’s biggest maker of premium chocolate, reported 2014 profit that topped analyst estimates, boosted by higher sales in the US after its acquisition of Russell Stover Candies Inc.
Net income rose 13 per cent to 342.6 million francs ($345.7 million), the Kilchberg, Switzerland-based company said in a statement today. That compares with the 339 million-franc average of estimates for adjusted net income compiled by Bloomberg. The maker of Easter bunnies wrapped in golden foil and Lindor chocolate balls said Russell Stover contributed to sales growth of 17 per cent.
Russell Stover, the largest US maker of boxed chocolate, will boost the Swiss company’s revenue from North America beyond $1.5 billion in 2015, Lindt said last year. Lindt surpassed fourth-place Nestlé in the North American chocolate market after the purchase, with an 8 per cent share, according to Euromonitor data.
“Substantially higher volumes in all countries, a consistently high pace of innovation, continuous geographical expansion, and the dynamic development of the company’s own retail network all contributed to this good result,” Lindt said.
Bloomberg News, edited by ESM